Is Chesterfield 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, Chesterfield Township has remained a Seller's Market.
Housing Prices in Chesterfield Township, MI
How much do homes in Chesterfield Township, MI cost?
Median Sold Price
$314,992
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chesterfield Township was $314,992 in May 2024, up 4.9% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $67K | N/A |
2 Bedrooms | $213K | $216K | +1.4% |
3 Bedrooms | $300K | $345K | +15.0% |
4 Bedrooms | $422K | $420K | -0.5% |
5+ Bedrooms | $410K | $325K | -20.7% |
Summary: Chesterfield Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 20.7%.
Median Sold Price Compared To Nearby Cities
Lenox Township | $273.5K | $290K | +6.0% |
Chesterfield Township | $300.3K | $314.9K | +4.9% |
New Baltimore | $373.1K | $385K | +3.2% |
New Haven | $275K | $283.7K | +3.2% |
Ira Township | $277.5K | $280K | +0.9% |
Housing Supply in Chesterfield Township, MI
How many homes are available in Chesterfield Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
119 | 169 | +42.0% |
Summary: The Chesterfield Township real estate market had 169 homes for sale in May 2024, a 42.0% 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 | 35 | 58 | +65.7% |
3 Bedrooms | 55 | 77 | +40.0% |
4 Bedrooms | 28 | 29 | +3.6% |
5+ Bedrooms | 1 | 5 | +400.0% |
Summary: The Chesterfield 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 increased by 65.7%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 400%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 42 | +16.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in Chesterfield Township in May 2024, up by 16.7% month-over-month. Of the 42 sold homes, 38% were sold under asking, 26% were sold at asking, and 36% were sold over asking.
Days on Market for Chesterfield Township, MI
How long does it take to sell a home in Chesterfield Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 30 Days | -28.7% |
Summary: Homes in Chesterfield Township had an average of 30 days on market in May 2024, down by 28.7% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 42 homes were sold in Chesterfield Township; 79% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.