Is Scio 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, Scio Township has remained a Seller's Market.
Housing Prices in Scio Township, MI
How much do homes in Scio Township, MI cost?
Median Sold Price
$535,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Scio Township was $535,000 in May 2024, up 7.4% 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 | $345.5K | $337.8K | -2.2% |
2 Bedrooms | $310K | $327.5K | +5.6% |
3 Bedrooms | $450K | $461K | +2.4% |
4 Bedrooms | $650K | $620K | -4.6% |
5+ Bedrooms | $849K | $760K | -10.5% |
Summary: Scio Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Cities
Dexter | $463.2K | $500K | +7.9% |
Scio Township | $498K | $535K | +7.4% |
Ann Arbor | $456.6K | $490K | +7.3% |
Ann Arbor Charter Township | $456.6K | $490K | +7.3% |
Webster Township | $531K | $542.5K | +2.2% |
Housing Supply in Scio Township, MI
How many homes are available in Scio Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
78 | 91 | +16.7% |
Summary: The Scio Township real estate market had 91 homes for sale in May 2024, a 16.7% 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 | 9 | 8 | -11.1% |
3 Bedrooms | 29 | 33 | +13.8% |
4 Bedrooms | 27 | 31 | +14.8% |
5+ Bedrooms | 11 | 18 | +63.6% |
Summary: The Scio 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 decreased by 11.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 63.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 25 | +8.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Scio Township in May 2024, up by 8.7% month-over-month. Of the 25 sold homes, 28% were sold under asking, 12% were sold at asking, and 60% were sold over asking.
Days on Market for Scio Township, MI
How long does it take to sell a home in Scio Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 19 Days | -64.1% |
Summary: Homes in Scio Township had an average of 19 days on market in May 2024, down by 64.1% compared to last year.
Breakdown of Home Sale Times
21 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, 25 homes were sold in Scio Township; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.