Is Oshtemo 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, Oshtemo Charter Township has remained a Seller's Market.
Housing Prices in Oshtemo Charter Township, MI
How much do homes in Oshtemo Charter Township, MI cost?
Median Sold Price
$324,950
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Oshtemo Charter Township was $324,950 in May 2024, up 2.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | - | N/A |
2 Bedrooms | $265K | $273.8K | +3.3% |
3 Bedrooms | $300.7K | $305K | +1.4% |
4 Bedrooms | $365K | $412.5K | +13.0% |
5+ Bedrooms | $515K | $548.3K | +6.5% |
Summary: Oshtemo 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 3.3%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
Cooper Charter Township | $229K | $260K | +13.5% |
Kalamazoo | $207.2K | $224.9K | +8.5% |
Kalamazoo Charter Township | $207.7K | $224.7K | +8.2% |
Oshtemo Charter Township | $316.6K | $324.9K | +2.6% |
Housing Supply in Oshtemo Charter Township, MI
How many homes are available in Oshtemo Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
82 | 92 | +12.2% |
Summary: The Oshtemo Charter Township real estate market had 92 homes for sale in May 2024, a 12.2% 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 | 25 | -7.4% |
3 Bedrooms | 23 | 31 | +34.8% |
4 Bedrooms | 21 | 21 | 0.0% |
5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Oshtemo 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 decreased by 7.4%, 3 bedroom homes increased by 34.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 22 | +69.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Oshtemo Charter Township in May 2024, up by 69.2% month-over-month. Of the 22 sold homes, 41% were sold under asking, 18% were sold at asking, and 41% were sold over asking.
Days on Market for Oshtemo Charter Township, MI
How long does it take to sell a home in Oshtemo Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 48 Days | -8.0% |
Summary: Homes in Oshtemo Charter Township had an average of 48 days on market in May 2024, down by 8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Oshtemo Charter Township; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.