Is Taylor, 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, Taylor has remained a Seller's Market.
Key Takeaway
Taylor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Taylor, MI
How much do homes in Taylor, MI cost?
Median Sold Price
$170,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Taylor have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Taylor was $170,000 in May 2024, up 13.3% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80.7K | $54.5K | -32.5% |
| 2 Bedrooms | $110K | $118.5K | +7.7% |
| 3 Bedrooms | $154K | $173.3K | +12.6% |
| 4 Bedrooms | $230K | $280K | +21.7% |
| 5+ Bedrooms | $319.2K | $335K | +4.9% |
Summary: Taylor housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.5%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Dearborn Heights | $170K | $194K | +14.1% |
| Allen Park | $185K | $210K | +13.5% |
| Taylor | $150K | $170K | +13.3% |
| Brownstown Charter Township | $269.2K | $303K | +12.5% |
| Southgate | $175K | $185K | +5.7% |
Housing Supply in Taylor, MI
How many homes are available in Taylor, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 187 | 197 | +5.3% |
Summary: The Taylor real estate market had 197 homes for sale in May 2024, a 5.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 32 | 37 | +15.6% |
| 3 Bedrooms | 102 | 112 | +9.8% |
| 4 Bedrooms | 40 | 40 | 0.0% |
| 5+ Bedrooms | 12 | 7 | -41.7% |
Summary: The Taylor 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 15.6%, 3 bedroom homes increased by 9.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 41.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 58 | +18.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Taylor, you could pay more than the asking price. 43.1% of homes here sold above asking price last month.
Summary: A total of 58 homes were sold or pending in Taylor in May 2024, up by 18.4% month-over-month. Of the 58 sold homes, 26% were sold under asking, 31% were sold at asking, and 43% were sold over asking.
Days on Market for Taylor, MI
How long does it take to sell a home in Taylor, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 19 Days | -24.0% |
Summary: Homes in Taylor had an average of 19 days on market in May 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Taylor are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 58 homes were sold in Taylor; 84% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.