New Era Real Estate
4 active listings · 29 sold in the past 12mo
$322,450
Median List Price
29
Sold (past 12mo)
60
Avg Days on Market
-6.3%
HFGⓘ
Household Formation Gap (HFG) is a secondary market indicator that measures hidden housing demand created by shrinking household sizes. As average household size decreases — due to divorce, single living, empty nesting, delayed marriage — more housing units are needed even without population growth. HFG compares the estimated number of households needed today versus 15 years ago: (population ÷ avg household size). This is a demographic trend signal, not a primary market indicator like income-based affordability or comparative market analysis. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2009–2023), Tables B01003, B25010, B25001.
Active Listings
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Homes for Sale(4)
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For Sale
1/48
$545,000
8240 W Stony Lake Road, New Era, MI 49446
4 bd3 ba2,470 sqft0.54 ac
Single Family
For Sale
1/42
$355,000
2739 Hillcrest Drive, New Era, MI 49446
3 bd3 ba1,640 sqft0.72 ac
Single Family
For Sale
1/45
$289,900
4614 Elm Street, New Era, MI 49446
3 bd3 ba2,502 sqft0.26 ac
Single Family
For Sale
1/15
$249,900
1915 W Garfild Road, New Era, MI 49446
3 bd1 ba8.37 ac
Single Family
Recently Sold(29)
Frequently Asked Questions about New Era
What is the current real estate inventory in New Era?
There are currently 4 active listings in New Era. The median asking price is $322,450.
What is the median home price in New Era?
Homes in New Era sell for a median of $322,450, drawn from 29 transactions over the past year.
How fast do homes sell in New Era?
The average days on market in New Era is 60, based on 29 recent transactions.
What school districts serve New Era?
Multiple school districts may serve New Era. Michigan school district boundaries are independent of city borders. The school district for a specific property depends on its exact location within the city.
Is New Era a buyer's or seller's market?
New Era is currently a seller's market, with 1.7 months of supply. That ratio comes from 4 active listings relative to 29 sales per year.
How much are property taxes in New Era?
Property taxes in New Era are based on a property's State Equalized Value (SEV), which is roughly 50% of market value, multiplied by the local millage rate. Homestead properties (primary residences) receive a lower rate than non-homestead. Tax bills are split into summer and winter installments.
What is the Household Formation Gap in New Era?
Based on Census Bureau ACS data, New Era shows a -6.3% Household Formation Gap. Despite household size decreasing from 2.98 to 2.54, the 20.1% population decline has reduced the overall number of households needing housing. This is a secondary demographic indicator, distinct from primary market measures.