Is Orion Charter 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, Orion Charter Township has remained a Seller's Market.
Key Takeaway
Orion Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orion Charter Township, MI
How much do homes in Orion Charter Township, MI cost?
Median Sold Price
$377,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Orion Charter Township have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in Orion Charter Township was $377,000 in May 2024, down 1.8% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $175K | N/A |
| 2 Bedrooms | $200K | $202K | +1.0% |
| 3 Bedrooms | $325K | $338K | +4.0% |
| 4 Bedrooms | $455K | $467K | +2.6% |
| 5+ Bedrooms | $550K | $587.5K | +6.8% |
Summary: Orion Charter 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%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
| Oxford Charter Township | $374K | $398.6K | +6.6% |
| Oakland | $657.5K | $680K | +3.4% |
| Oakland Charter Township | $595K | $600K | +0.8% |
| Orion Charter Township | $383.8K | $377K | -1.8% |
| Lake Orion | $381.3K | $373.3K | -2.1% |
Housing Supply in Orion Charter Township, MI
How many homes are available in Orion Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 103 | 129 | +25.2% |
Summary: The Orion Charter Township real estate market had 129 homes for sale in May 2024, a 25.2% 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 | 27 | 29 | +7.4% |
| 3 Bedrooms | 34 | 47 | +38.2% |
| 4 Bedrooms | 32 | 43 | +34.4% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Orion Charter 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 7.4%, 3 bedroom homes increased by 38.2%, 4 bedroom homes increased by 34.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 38 | +15.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orion Charter Township, you could pay more than the asking price. 57.9% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in Orion Charter Township in May 2024, up by 15.2% month-over-month. Of the 38 sold homes, 37% were sold under asking, 5% were sold at asking, and 58% were sold over asking.
Days on Market for Orion Charter Township, MI
How long does it take to sell a home in Orion Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 19 Days | +15.2% |
Summary: Homes in Orion Charter Township had an average of 19 days on market in May 2024, up by 15.2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Orion Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 38 homes were sold in Orion Charter Township; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.