Is West Bloomfield, 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, West Bloomfield has remained a Seller's Market.
Housing Prices in West Bloomfield, MI
How much do homes in West Bloomfield, MI cost?
Median Sold Price
$400,666
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Bloomfield was $400,666 in April 2024, up 0.2% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $93.6K | +7.0% |
2 Bedrooms | $260K | $250K | -3.8% |
3 Bedrooms | $340K | $349.5K | +2.8% |
4 Bedrooms | $468.2K | $480K | +2.5% |
5+ Bedrooms | $651K | $675K | +3.7% |
Summary: West Bloomfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
West Bloomfield Charter Township | $395K | $400K | +1.3% |
West Bloomfield | $400K | $400.6K | 0.2% |
Keego Harbor | $235K | $194K | -17.4% |
Housing Supply in West Bloomfield, MI
How many homes are available in West Bloomfield, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
176 | 201 | +14.2% |
Summary: The West Bloomfield real estate market had 201 homes for sale in April 2024, a 14.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 38 | 43 | +13.2% |
3 Bedrooms | 50 | 65 | +30.0% |
4 Bedrooms | 69 | 69 | 0.0% |
5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The West Bloomfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 57 | -3.4% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 57 homes were sold or pending in West Bloomfield in April 2024, down by 3.4% month-over-month. Of the 57 sold homes, 47% were sold under asking, 16% were sold at asking, and 37% were sold over asking.
Days on Market for West Bloomfield, MI
How long does it take to sell a home in West Bloomfield, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
47 Days | 31 Days | -34.3% |
Summary: Homes in West Bloomfield had an average of 31 days on market in Apr 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 57 homes were sold in West Bloomfield; 72% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.