Is Romeo, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Romeo has remained a Seller's Market.
Housing Prices in Romeo, MI
How much do homes in Romeo, MI cost?
Median Sold Price
$388,103
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Romeo was $388,103 in April 2024, up 35.7% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $67.5K | $70K | +3.7% |
2 Bedrooms | $207K | $254.5K | +22.9% |
3 Bedrooms | $300K | $389.5K | +29.9% |
4 Bedrooms | $313K | $461.1K | +47.3% |
5+ Bedrooms | $275K | $220K | -20.0% |
Summary: Romeo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 29.9%, 4 bedroom homes increased by 47.3%, and 5+ bedroom homes decreased by 20%.
Median Sold Price Compared To Nearby Cities
Romeo | $286K | $388.1K | +35.7% |
Washington Township | $395K | $420K | +6.3% |
Bruce Township | $394.1K | $415K | +5.3% |
Washington | $420K | $427.6K | +1.8% |
Housing Supply in Romeo, MI
How many homes are available in Romeo, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 25 | +31.6% |
Summary: The Romeo real estate market had 25 homes for sale in April 2024, a 31.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 3 | +200.0% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 4 | 6 | +50.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Romeo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 11 | +1000.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Romeo in April 2024, up by 1000.0% month-over-month. Of the 11 sold homes, 9% were sold under asking, 9% were sold at asking, and 82% were sold over asking.
Days on Market for Romeo, MI
How long does it take to sell a home in Romeo, MI?
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Romeo; 91% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.