Is Brighton, 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, Brighton has remained a Seller's Market.
Housing Prices in Brighton, MI
How much do homes in Brighton, MI cost?
Median Sold Price
$410,225
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Brighton was $410,225 in May 2024, up 3.3% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $149.9K | $141.2K | -5.8% |
2 Bedrooms | $282.5K | $300K | +6.2% |
3 Bedrooms | $356.6K | $375K | +5.1% |
4 Bedrooms | $500K | $527.5K | +5.5% |
5+ Bedrooms | $572.4K | $675K | +17.9% |
Summary: Brighton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
Genoa Township | $358.2K | $401K | +11.9% |
Green Oak Township | $399K | $430K | +7.8% |
Brighton Township | $400K | $414K | +3.5% |
Brighton | $397K | $410.2K | +3.3% |
Housing Supply in Brighton, MI
How many homes are available in Brighton, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
177 | 192 | +8.5% |
Summary: The Brighton real estate market had 192 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 32 | 34 | +6.3% |
3 Bedrooms | 78 | 78 | 0.0% |
4 Bedrooms | 50 | 55 | +10.0% |
5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The Brighton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 6.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
57 | 43 | -24.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Brighton in May 2024, down by 24.6% month-over-month. Of the 43 sold homes, 37% were sold under asking, 14% were sold at asking, and 49% were sold over asking.
Days on Market for Brighton, MI
How long does it take to sell a home in Brighton, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 27 Days | +14.8% |
Summary: Homes in Brighton had an average of 27 days on market in May 2024, up by 14.8% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 43 homes were sold in Brighton; 74% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.