Is Hamtramck, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Hamtramck was a Neutral Market.
Housing Prices in Hamtramck, MI
How much do homes in Hamtramck, MI cost?
Median Sold Price
$150,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hamtramck was $150,000 in April 2024, down 4.6% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $120K | N/A |
2 Bedrooms | $115K | $98K | -14.8% |
3 Bedrooms | $140K | $146.5K | +4.6% |
4 Bedrooms | $175K | $174K | -0.6% |
5+ Bedrooms | $198K | $213.5K | +7.8% |
Summary: Hamtramck housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Detroit | $80K | $81K | +1.3% |
Hamtramck | $157.2K | $150K | -4.6% |
Housing Supply in Hamtramck, MI
How many homes are available in Hamtramck, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
58 | 66 | +13.8% |
Summary: The Hamtramck real estate market had 66 homes for sale in April 2024, a 13.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 11 | 13 | +18.2% |
3 Bedrooms | 25 | 28 | +12.0% |
4 Bedrooms | 14 | 13 | -7.1% |
5+ Bedrooms | 7 | 12 | +71.4% |
Summary: The Hamtramck housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 71.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 14 | +55.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Hamtramck in April 2024, up by 55.6% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.
Days on Market for Hamtramck, MI
How long does it take to sell a home in Hamtramck, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 39 Days | +144.2% |
Summary: Homes in Hamtramck had an average of 39 days on market in Apr 2024, up by 144.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in Hamtramck; 43% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.