Is Plymouth, 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, Plymouth has remained a Seller's Market.
Key Takeaway
Plymouth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Plymouth, MI
How much do homes in Plymouth, MI cost?
Median Sold Price
$422,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Plymouth have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Plymouth was $422,000 in May 2024, up 1.2% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $143.5K | $153K | +6.6% |
| 2 Bedrooms | $265K | $250.9K | -5.3% |
| 3 Bedrooms | $402K | $400K | -0.5% |
| 4 Bedrooms | $520K | $574.7K | +10.5% |
| 5+ Bedrooms | $628.5K | $657.5K | +4.6% |
Summary: Plymouth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Plymouth Charter Township | $422.7K | $430K | +1.7% |
| Plymouth | $416.9K | $422K | +1.2% |
Housing Supply in Plymouth, MI
How many homes are available in Plymouth, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 113 | 133 | +17.7% |
Summary: The Plymouth real estate market had 133 homes for sale in May 2024, a 17.7% 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 | 19 | 23 | +21.1% |
| 3 Bedrooms | 50 | 56 | +12.0% |
| 4 Bedrooms | 35 | 44 | +25.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Plymouth 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 21.1%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 36 | -7.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Plymouth, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in Plymouth in May 2024, down by 7.7% month-over-month. Of the 36 sold homes, 31% were sold under asking, 11% were sold at asking, and 58% were sold over asking.
Days on Market for Plymouth, MI
How long does it take to sell a home in Plymouth, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 12 Days | -53.3% |
Summary: Homes in Plymouth had an average of 12 days on market in May 2024, down by 53.3% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Plymouth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 36 homes were sold in Plymouth; 92% of homes were sold within 30 days, 6% 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.