Is Washington Township, 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, Washington Township has remained a Seller's Market.
Housing Prices in Washington Township, MI
How much do homes in Washington Township, MI cost?
Median Sold Price
$420,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Washington Township was $420,000 in April 2024, up 6.3% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $292.5K | $311.9K | +6.6% |
3 Bedrooms | $390K | $415K | +6.4% |
4 Bedrooms | $480K | $587.5K | +22.4% |
5+ Bedrooms | $564K | $992.5K | +76.0% |
Summary: Washington Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes increased by 76%.
Median Sold Price Compared To Nearby Cities
Romeo | $286K | $388.1K | +35.7% |
Oakland | $600K | $725K | +20.8% |
Washington Township | $395K | $420K | +6.3% |
Washington | $420K | $427.6K | +1.8% |
Shelby Charter Township | $334.5K | $339.9K | +1.6% |
Housing Supply in Washington Township, MI
How many homes are available in Washington Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
72 | 83 | +15.3% |
Summary: The Washington Township real estate market had 83 homes for sale in April 2024, a 15.3% 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 | 17 | 7 | -58.8% |
3 Bedrooms | 30 | 42 | +40.0% |
4 Bedrooms | 19 | 26 | +36.8% |
5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Washington Township 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 decreased by 58.8%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 20 | +5.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Washington Township in April 2024, up by 5.3% month-over-month. Of the 20 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for Washington Township, MI
How long does it take to sell a home in Washington Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
167 Days | 24 Days | -85.6% |
Summary: Homes in Washington Township had an average of 24 days on market in Apr 2024, down by 85.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Washington Township; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.