Is Riley Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Riley Township was a Neutral Market.
Housing Prices in Riley Township, MI
How much do homes in Riley Township, MI cost?
Median Sold Price
$231,900
$171/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Riley Township was $231,900 in May 2024, down 31.8% from last month, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $220K | N/A |
3 Bedrooms | $340K | $344K | +1.2% |
4 Bedrooms | - | $231.9K | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Riley Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Riley Township, MI
How many homes are available in Riley Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 12 | -7.7% |
Summary: The Riley Township real estate market had 12 homes for sale in May 2024, a 7.7% decrease 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 | 1 | 1 | 0.0% |
3 Bedrooms | 9 | 7 | -22.2% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Riley 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 remained the same, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 6 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Riley Township in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Riley Township, MI
How long does it take to sell a home in Riley Township, MI?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 Days | 43 Days | +1344.4% |
Summary: Homes in Riley Township had an average of 43 days on market in May 2024, up by 1344.4% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Riley Township; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.