Is Putnam 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, Putnam Township has remained a Seller's Market.
Key Takeaway
Putnam Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Putnam Township, MI
How much do homes in Putnam Township, MI cost?
Median Sold Price
$339,900
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Putnam Township have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Putnam Township was $339,900 in May 2024, up 7.6% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223K | $180K | -19.3% |
| 2 Bedrooms | $232.5K | $252K | +8.4% |
| 3 Bedrooms | $295K | $329K | +11.5% |
| 4 Bedrooms | $433K | $409.9K | -5.3% |
| 5+ Bedrooms | $338K | $556.3K | +64.6% |
Summary: Putnam Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.3%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 64.6%.
Median Sold Price Compared To Nearby Cities
| Gregory | $267.4K | $323.5K | +20.9% |
| Dexter Township | $450K | $495K | +10.0% |
| Putnam Township | $316K | $339.9K | +7.6% |
| Unadilla Township | $248.9K | $267.2K | +7.4% |
| Pinckney | $350.2K | $375K | +7.1% |
Housing Supply in Putnam Township, MI
How many homes are available in Putnam Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 44 | +15.8% |
Summary: The Putnam Township real estate market had 44 homes for sale in May 2024, a 15.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Putnam Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 13 | +160.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Putnam Township, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Putnam Township in May 2024, up by 160.0% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% were sold over asking.
Days on Market for Putnam Township, MI
How long does it take to sell a home in Putnam Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 33 Days | +129.7% |
Summary: Homes in Putnam Township had an average of 33 days on market in May 2024, up by 129.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Putnam Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Putnam Township; 77% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
