Is Newfield Township, 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, Newfield Township was a Seller's Market.
Housing Prices in Newfield Township, MI
How much do homes in Newfield Township, MI cost?
Median Sold Price
$190,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Newfield Township was $190,000 in May 2024, up 18.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $72K | $155K | +115.3% |
2 Bedrooms | $117K | $190K | +62.4% |
3 Bedrooms | $181K | $179.9K | -0.6% |
4 Bedrooms | $190K | $217.2K | +14.3% |
5+ Bedrooms | $430K | $206.5K | -52.0% |
Summary: Newfield Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 115.3%, 2 bedroom homes increased by 62.4%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 52%.
Median Sold Price Compared To Nearby Cities
Hesperia | $165K | $200K | +21.2% |
Newfield Township | $160.5K | $190K | +18.4% |
Housing Supply in Newfield Township, MI
How many homes are available in Newfield Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 15 | -11.8% |
Summary: The Newfield Township real estate market had 15 homes for sale in May 2024, a 11.8% decrease 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 | 3 | 4 | +33.3% |
3 Bedrooms | 10 | 7 | -30.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Newfield Township 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 increased by 33.3%, 3 bedroom homes decreased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Newfield Township in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Newfield Township, MI
How long does it take to sell a home in Newfield Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 21 Days | +78.7% |
Summary: Homes in Newfield Township had an average of 21 days on market in May 2024, up by 78.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Newfield Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.