Is Woodhaven, 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, Woodhaven has remained a Seller's Market.
Key Takeaway
Woodhaven is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Woodhaven, MI
How much do homes in Woodhaven, MI cost?
Median Sold Price
$260,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Woodhaven have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Woodhaven was $260,000 in May 2024, up 8.4% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $162.5K | $175K | +7.7% |
| 3 Bedrooms | $250K | $266K | +6.4% |
| 4 Bedrooms | $273.2K | $293.5K | +7.4% |
| 5+ Bedrooms | $266.8K | $254.9K | -4.5% |
Summary: Woodhaven 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 7.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Brownstown Charter Township | $269.2K | $303K | +12.5% |
| Woodhaven | $239.9K | $260K | +8.4% |
| Trenton | $219.9K | $225K | +2.3% |
| Riverview | $207.5K | $194.7K | -6.1% |
Housing Supply in Woodhaven, MI
How many homes are available in Woodhaven, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Summary: The Woodhaven real estate market had 27 homes for sale in May 2024, a 8.0% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Woodhaven 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 25%, 3 bedroom homes increased by 7.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Woodhaven, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Woodhaven in May 2024, up by 83.3% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for Woodhaven, MI
How long does it take to sell a home in Woodhaven, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 10 Days | -36.9% |
Summary: Homes in Woodhaven had an average of 10 days on market in May 2024, down by 36.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Woodhaven are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Woodhaven; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.