Is Sterling Heights, 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, Sterling Heights has remained a Seller's Market.
Housing Prices in Sterling Heights, MI
How much do homes in Sterling Heights, MI cost?
Median Sold Price
$295,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Sterling Heights was $295,000 in April 2024, up 5.6% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97K | $97.4K | 0.5% |
2 Bedrooms | $196K | $215K | +9.7% |
3 Bedrooms | $275.5K | $290K | +5.3% |
4 Bedrooms | $333.2K | $350K | +5.0% |
5+ Bedrooms | $381K | $410K | +7.6% |
Summary: Sterling Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.5%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
Utica | $270.5K | $486K | +79.7% |
Fraser | $215K | $230K | +7.0% |
Sterling Heights | $279.4K | $295K | +5.6% |
Shelby Charter Township | $334.5K | $339.9K | +1.6% |
Clinton Township | $229.2K | $230.2K | 0.4% |
Housing Supply in Sterling Heights, MI
How many homes are available in Sterling Heights, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
196 | 247 | +26.0% |
Summary: The Sterling Heights real estate market had 247 homes for sale in April 2024, a 26.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 40 | 52 | +30.0% |
3 Bedrooms | 101 | 126 | +24.8% |
4 Bedrooms | 46 | 57 | +23.9% |
5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Sterling Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 24.8%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 87 | +19.2% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Summary: A total of 87 homes were sold or pending in Sterling Heights in April 2024, up by 19.2% month-over-month. Of the 87 sold homes, 32% were sold under asking, 14% were sold at asking, and 54% were sold over asking.
Days on Market for Sterling Heights, MI
How long does it take to sell a home in Sterling Heights, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
121 Days | 14 Days | -88.0% |
Summary: Homes in Sterling Heights had an average of 14 days on market in Apr 2024, down by 88% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 87 homes were sold in Sterling Heights; 92% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.