Is Bloomfield Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bloomfield Charter Township has remained a Seller's Market.
Key Takeaway
Bloomfield Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bloomfield Charter Township, MI
How much do homes in Bloomfield Charter Township, MI cost?
Median Sold Price
$599,400
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bloomfield Charter Township have sold for 15.1% more than they did a year ago.
Summary: The median home sold price in Bloomfield Charter Township was $599,400 in May 2024, up 15.1% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110.4K | $123K | +11.4% |
| 2 Bedrooms | $229.4K | $224K | -2.4% |
| 3 Bedrooms | $444.9K | $499.5K | +12.2% |
| 4 Bedrooms | $619K | $704.5K | +13.8% |
| 5+ Bedrooms | $1.0M | $920K | -14.8% |
Summary: Bloomfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes decreased by 14.8%.
Median Sold Price Compared To Nearby Cities
| Bloomfield Charter Township | $520.9K | $599.4K | +15.1% |
| Bloomfield Hills | $537.5K | $613.2K | +14.1% |
| Birmingham | $663.4K | $741.1K | +11.7% |
| Southfield Township | $250K | $265.7K | +6.3% |
| Franklin | $867K | $727K | -16.1% |
Housing Supply in Bloomfield Charter Township, MI
How many homes are available in Bloomfield Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 164 | 220 | +34.1% |
Summary: The Bloomfield Charter Township real estate market had 220 homes for sale in May 2024, a 34.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 18 | 23 | +27.8% |
| 3 Bedrooms | 48 | 64 | +33.3% |
| 4 Bedrooms | 74 | 90 | +21.6% |
| 5+ Bedrooms | 23 | 41 | +78.3% |
Summary: The Bloomfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 78.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 57 | -5.0% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomfield Charter Township, you may be able to get a good deal. 43.9% of homes here sold below asking price last month.
Summary: A total of 57 homes were sold or pending in Bloomfield Charter Township in May 2024, down by 5.0% month-over-month. Of the 57 sold homes, 44% were sold under asking, 14% were sold at asking, and 42% were sold over asking.
Days on Market for Bloomfield Charter Township, MI
How long does it take to sell a home in Bloomfield Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 15 Days | -46.4% |
Summary: Homes in Bloomfield Charter Township had an average of 15 days on market in May 2024, down by 46.4% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bloomfield Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 57 homes were sold in Bloomfield Charter Township; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.