Is Tallmadge Charter 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, Tallmadge Charter Township has remained a Seller's Market.
Housing Prices in Tallmadge Charter Township, MI
How much do homes in Tallmadge Charter Township, MI cost?
Median Sold Price
$412,500
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Tallmadge Charter Township was $412,500 in May 2024, up 14.6% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | - | N/A |
2 Bedrooms | $325K | $370K | +13.8% |
3 Bedrooms | $314K | $376.2K | +19.8% |
4 Bedrooms | $355K | $447.7K | +26.1% |
5+ Bedrooms | $584.4K | $450K | -23.0% |
Summary: Tallmadge Charter 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 13.8%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes decreased by 23%.
Housing Supply in Tallmadge Charter Township, MI
How many homes are available in Tallmadge Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 20 | +25.0% |
Summary: The Tallmadge Charter Township real estate market had 20 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 8 | 7 | -12.5% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Tallmadge Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Tallmadge Charter Township in May 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Tallmadge Charter Township, MI
How long does it take to sell a home in Tallmadge Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 26 Days | -28.2% |
Summary: Homes in Tallmadge Charter Township had an average of 26 days on market in May 2024, down by 28.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Tallmadge Charter Township; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.