Is Tallmadge Charter 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, Tallmadge Charter Township has remained a Seller's Market.
Key Takeaway
Tallmadge Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tallmadge Charter Township, MI
How much do homes in Tallmadge Charter Township, MI cost?
Median Sold Price
$412,500
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tallmadge Charter Township have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in Tallmadge Charter Township was $412,500 in May 2024, up 14.6% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | - | N/A |
| 2 Bedrooms | $325K | $370K | +13.8% |
| 3 Bedrooms | $314K | $376.2K | +19.8% |
| 4 Bedrooms | $355K | $447.7K | +26.1% |
| 5+ Bedrooms | $584.4K | $450K | -23.0% |
Summary: Tallmadge Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes decreased by 23%.
Housing Supply in Tallmadge Charter Township, MI
How many homes are available in Tallmadge Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Summary: The Tallmadge Charter Township real estate market had 20 homes for sale in May 2024, a 25.0% increase 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 | 2 | +100.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Tallmadge Charter 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 increased by 100%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tallmadge Charter Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Tallmadge Charter Township in May 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Tallmadge Charter Township, MI
How long does it take to sell a home in Tallmadge Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 26 Days | -28.2% |
Summary: Homes in Tallmadge Charter Township had an average of 26 days on market in May 2024, down by 28.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tallmadge Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Tallmadge Charter Township; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
