Shepherd Real Estate
8 active listings · 53 sold in the past 12mo
$319,950
Median List Price
53
Sold (past 12mo)
68
Avg Days on Market
-9.1%
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(8)
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For Sale
1/43
$599,900
99 N Alamando Road, Shepherd, MI 48883
4 bd2 ba3.21 ac
Single Family
For Sale
1/23
$489,000
323 W Wright Avenue, Shepherd, MI 48883
0.68 ac
Multi-Fam
For Sale
1/77
$375,000
308 S 3rd Street, Shepherd, MI 48883
3 bd1 ba0.50 ac
Single Family
Under Contract
1/41
$360,000
10989 E Pleasant Valley Road, Shepherd, MI 48883
3 bd2 ba1 ac
Single Family
For Sale
1/35
$279,900
5557 E Pleasant Valley Road, Shepherd, MI 48883
3 bd2 ba1 ac
Single Family
For Sale
1/38
$239,000
117 E Wright Avenue, Shepherd, MI 48883
3 bd2 ba0.10 ac
Single Family
For Sale
1/30
$180,000
9365 W North County Line Road, Shepherd, MI 48883
2 bd2 ba8 ac
Mfg Home
Under Contract
1/25
$120,000
5614 Cavender Drive, Shepherd, MI 48883
3 bd2 ba1.83 ac
Mfg Home
Recently Sold(53)
Frequently Asked Questions about Shepherd
What is the current real estate inventory in Shepherd?
There are currently 8 active listings in Shepherd. The median asking price is $319,950.
What is the median home price in Shepherd?
Based on 53 sales in the past year, homes in Shepherd have a median price of $319,950.
How fast do homes sell in Shepherd?
Over the past year, homes in Shepherd spent an average of 68 days on market before selling.
What school districts serve Shepherd?
Multiple school districts may serve Shepherd. 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 Shepherd a buyer's or seller's market?
Shepherd is currently a seller's market, with 1.8 months of supply. That ratio comes from 8 active listings relative to 53 sales per year.
How much are property taxes in Shepherd?
Property taxes in Shepherd 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 does demographic data show about housing demand in Shepherd?
Based on Census Bureau ACS data, Shepherd shows a -9.1% Household Formation Gap. Despite household size decreasing from 2.45 to 2.76, the 2.3% population decline has reduced the overall number of households needing housing. This is a secondary demographic indicator, distinct from primary market measures.