Is Canton 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, Canton Charter Township has remained a Seller's Market.
Key Takeaway
Canton Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Canton Charter Township, MI
How much do homes in Canton Charter Township, MI cost?
Median Sold Price
$374,985
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Canton Charter Township have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Canton Charter Township was $374,985 in May 2024, up 7.1% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.9K | $160K | -20.0% |
| 2 Bedrooms | $239.9K | $252.2K | +5.1% |
| 3 Bedrooms | $325K | $355.3K | +9.3% |
| 4 Bedrooms | $448K | $500K | +11.6% |
| 5+ Bedrooms | $630K | $687.5K | +9.1% |
Summary: Canton Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Cities
| Wayne | $149.9K | $165K | +10.1% |
| Westland | $190.5K | $204.5K | +7.3% |
| Canton Charter Township | $350K | $374.9K | +7.1% |
| Canton | $350K | $374.9K | +7.1% |
| Plymouth Charter Township | $422.7K | $430K | +1.7% |
Housing Supply in Canton Charter Township, MI
How many homes are available in Canton Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 236 | 248 | +5.1% |
Summary: The Canton Charter Township real estate market had 248 homes for sale in May 2024, a 5.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 58 | 50 | -13.8% |
| 3 Bedrooms | 98 | 95 | -3.1% |
| 4 Bedrooms | 71 | 91 | +28.2% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Canton Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.8%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 88 | 81 | -8.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Canton Charter Township, you could pay more than the asking price. 65.4% of homes here sold above asking price last month.
Summary: A total of 81 homes were sold or pending in Canton Charter Township in May 2024, down by 8.0% month-over-month. Of the 81 sold homes, 26% were sold under asking, 9% were sold at asking, and 65% were sold over asking.
Days on Market for Canton Charter Township, MI
How long does it take to sell a home in Canton Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 18 Days | +23.1% |
Summary: Homes in Canton Charter Township had an average of 18 days on market in May 2024, up by 23.1% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Canton Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 81 homes were sold in Canton 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.
