Is Wyoming, 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, Wyoming has remained a Seller's Market.
Key Takeaway
Wyoming is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wyoming, MI
How much do homes in Wyoming, MI cost?
Median Sold Price
$260,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wyoming have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Wyoming was $260,000 in May 2024, up 10.6% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | $135K | +28.6% |
| 2 Bedrooms | $193K | $214.9K | +11.3% |
| 3 Bedrooms | $237.9K | $260K | +9.3% |
| 4 Bedrooms | $281K | $296.5K | +5.5% |
| 5+ Bedrooms | $325K | $406.5K | +25.1% |
Summary: Wyoming housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 25.1%.
Median Sold Price Compared To Nearby Cities
| Byron Township | $366.2K | $410K | +11.9% |
| Wyoming | $235K | $260K | +10.6% |
| Grandville | $315K | $343.8K | +9.1% |
| Grand Rapids | $275.1K | $300K | +9.0% |
| Kentwood | $299.4K | $309.6K | +3.4% |
Housing Supply in Wyoming, MI
How many homes are available in Wyoming, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 157 | 184 | +17.2% |
Summary: The Wyoming real estate market had 184 homes for sale in May 2024, a 17.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 30 | 38 | +26.7% |
| 3 Bedrooms | 79 | 89 | +12.7% |
| 4 Bedrooms | 38 | 45 | +18.4% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Wyoming housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 75 | +74.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wyoming, you could pay more than the asking price. 62.7% of homes here sold above asking price last month.
Summary: A total of 75 homes were sold or pending in Wyoming in May 2024, up by 74.4% month-over-month. Of the 75 sold homes, 17% were sold under asking, 20% were sold at asking, and 63% were sold over asking.
Days on Market for Wyoming, MI
How long does it take to sell a home in Wyoming, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 12 Days | -24.2% |
Summary: Homes in Wyoming had an average of 12 days on market in May 2024, down by 24.2% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wyoming are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 75 homes were sold in Wyoming; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.