Is Midtown, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Midtown was a Seller's Market.
Housing Prices in Midtown, MI
How much do homes in Midtown, MI cost?
Median Sold Price
$142,000
$71/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Midtown was $142,000 in May 2024, down 2.1% from last year, and the median price per square foot was $71.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $138.4K | $103K | -25.6% |
2 Bedrooms | $56K | $151.5K | +170.5% |
3 Bedrooms | $70K | $87.5K | +25.0% |
4 Bedrooms | $175K | $175K | 0.0% |
5+ Bedrooms | $264.5K | $265K | 0.2% |
Summary: Midtown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.6%, 2 bedroom homes increased by 170.5%, 3 bedroom homes increased by 25%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Neighborhoods
Rosa Parks | $104K | $154.5K | +48.6% |
Midtown | $145K | $142K | -2.1% |
Middle Woodward | $235K | $199.9K | -14.9% |
Housing Supply in Midtown, MI
How many homes are available in Midtown, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
239 | 276 | +15.5% |
Summary: The Midtown real estate market had 276 homes for sale in May 2024, a 15.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 26 | 30 | +15.4% |
3 Bedrooms | 101 | 112 | +10.9% |
4 Bedrooms | 69 | 78 | +13.0% |
5+ Bedrooms | 40 | 53 | +32.5% |
Summary: The Midtown 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 15.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 32.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 31 | 0.0% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Midtown in May 2024, the same as the previous month. Of the 31 sold homes, 81% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for Midtown, MI
How long does it take to sell a home in Midtown, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
73 Days | 105 Days | +42.7% |
Summary: Homes in Midtown had an average of 105 days on market in May 2024, up by 42.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Midtown; 39% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 39% of homes were sold over 90 days.