Is Carmel 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, Carmel Township has remained a Seller's Market.
Key Takeaway
Carmel Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Carmel Township, MI
How much do homes in Carmel Township, MI cost?
Median Sold Price
$285,100
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Carmel Township have sold for 35.8% more than they did a year ago.
Summary: The median home sold price in Carmel Township was $285,100 in May 2024, up 35.8% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $72.5K | N/A |
| 2 Bedrooms | $151K | $202.4K | +34.1% |
| 3 Bedrooms | $200.7K | $285.1K | +42.0% |
| 4 Bedrooms | $296.1K | $322.4K | +8.9% |
| 5+ Bedrooms | $337.5K | $325K | -3.7% |
Summary: Carmel 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 34.1%, 3 bedroom homes increased by 42%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Carmel Township | $210K | $285.1K | +35.8% |
| Benton Township | $250.2K | $296.5K | +18.5% |
| Eaton Township | $229.9K | $248.4K | +8.1% |
| Charlotte | $189K | $200K | +5.8% |
| Chester Township | $220K | $228K | +3.6% |
Housing Supply in Carmel Township, MI
How many homes are available in Carmel Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The Carmel Township real estate market had 11 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Carmel Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Carmel Township, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Carmel Township in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% were sold over asking.
Days on Market for Carmel Township, MI
How long does it take to sell a home in Carmel Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 44 Days | +158.8% |
Summary: Homes in Carmel Township had an average of 44 days on market in May 2024, up by 158.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Carmel Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Carmel Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.