Is Washington 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, 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
$424,835
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Washington Township was $424,835 in May 2024, down 1.2% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $320K | $328.9K | +2.8% |
3 Bedrooms | $403.2K | $415K | +2.9% |
4 Bedrooms | $518.2K | $579K | +11.7% |
5+ Bedrooms | $710K | $885K | +24.6% |
Summary: Washington 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 2.8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 24.6%.
Housing Supply in Washington Township, MI
How many homes are available in Washington Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
81 | 110 | +35.8% |
Summary: The Washington Township real estate market had 110 homes for sale in May 2024, a 35.8% 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 | 5 | 20 | +300.0% |
3 Bedrooms | 42 | 45 | +7.1% |
4 Bedrooms | 29 | 37 | +27.6% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Washington 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 300%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 24 | +33.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Washington Township in May 2024, up by 33.3% month-over-month. Of the 24 sold homes, 29% were sold under asking, 13% were sold at asking, and 58% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 16 Days | -13.2% |
Summary: Homes in Washington Township had an average of 16 days on market in May 2024, down by 13.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Washington Township; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.