Is Redford Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Redford Charter Township has remained a Seller's Market.
Housing Prices in Redford Charter Township, MI
How much do homes in Redford Charter Township, MI cost?
Median Sold Price
$165,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Redford Charter Township was $165,000 in April 2024, up 6.3% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50K | $50.7K | +1.5% |
2 Bedrooms | $108K | $121.2K | +12.2% |
3 Bedrooms | $159.4K | $167K | +4.7% |
4 Bedrooms | $201K | $195.6K | -2.7% |
5+ Bedrooms | $202.4K | $221.5K | +9.4% |
Summary: Redford Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 9.4%.
Median Sold Price Compared To Nearby Cities
Dearborn Heights | $169.9K | $191.5K | +12.7% |
Redford | $155K | $165K | +6.5% |
Redford Charter Township | $155.2K | $165K | +6.3% |
Southfield | $215K | $225K | +4.7% |
Detroit | $80K | $81K | +1.3% |
Housing Supply in Redford Charter Township, MI
How many homes are available in Redford Charter Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
203 | 211 | +3.9% |
Summary: The Redford Charter Township real estate market had 211 homes for sale in April 2024, a 3.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 26 | 28 | +7.7% |
3 Bedrooms | 166 | 166 | 0.0% |
4 Bedrooms | 11 | 14 | +27.3% |
5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The Redford Charter Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
57 | 78 | +36.8% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 78 homes were sold or pending in Redford Charter Township in April 2024, up by 36.8% month-over-month. Of the 78 sold homes, 26% were sold under asking, 24% were sold at asking, and 50% were sold over asking.
Days on Market for Redford Charter Township, MI
How long does it take to sell a home in Redford Charter Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
72 Days | 25 Days | -64.8% |
Summary: Homes in Redford Charter Township had an average of 25 days on market in Apr 2024, down by 64.8% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 78 homes were sold in Redford Charter Township; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.