Is Dexter, 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, Dexter has remained a Seller's Market.
Key Takeaway
Dexter is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dexter, MI
How much do homes in Dexter, MI cost?
Median Sold Price
$500,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dexter have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Dexter was $500,000 in May 2024, up 7.9% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $352K | $349.5K | -0.7% |
| 2 Bedrooms | $335K | $311.9K | -6.9% |
| 3 Bedrooms | $399.9K | $435.7K | +9.0% |
| 4 Bedrooms | $511.5K | $530K | +3.6% |
| 5+ Bedrooms | $706.2K | $625K | -11.5% |
Summary: Dexter housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 11.5%.
Median Sold Price Compared To Nearby Cities
| Dexter | $463.2K | $500K | +7.9% |
| Scio Township | $498K | $535K | +7.4% |
| Webster Township | $531K | $542.5K | +2.2% |
Housing Supply in Dexter, MI
How many homes are available in Dexter, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 73 | +25.9% |
Summary: The Dexter real estate market had 73 homes for sale in May 2024, a 25.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 21 | 31 | +47.6% |
| 4 Bedrooms | 30 | 32 | +6.7% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Dexter housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 47.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 21 | +75.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dexter, you may be able to get a good deal. 52.4% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Dexter in May 2024, up by 75.0% month-over-month. Of the 21 sold homes, 52% were sold under asking, 10% were sold at asking, and 38% were sold over asking.
Days on Market for Dexter, MI
How long does it take to sell a home in Dexter, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 76 Days | 40 Days | -46.7% |
Summary: Homes in Dexter had an average of 40 days on market in May 2024, down by 46.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dexter are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Dexter; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
