Is West Bloomfield 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, West Bloomfield Charter Township has remained a Seller's Market.
Housing Prices in West Bloomfield Charter Township, MI
How much do homes in West Bloomfield Charter Township, MI cost?
Median Sold Price
$400,333
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in West Bloomfield Charter Township was $400,333 in May 2024, up 2.6% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $93.6K | +7.0% |
2 Bedrooms | $260K | $255K | -1.9% |
3 Bedrooms | $344.9K | $350K | +1.5% |
4 Bedrooms | $465K | $484.7K | +4.2% |
5+ Bedrooms | $640K | $675K | +5.5% |
Summary: West Bloomfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
West Bloomfield Charter Township | $390K | $400.3K | +2.6% |
West Bloomfield | $400K | $410K | +2.5% |
Keego Harbor | $236K | $188K | -20.3% |
Sylvan Lake | $360K | $278.5K | -22.6% |
Housing Supply in West Bloomfield Charter Township, MI
How many homes are available in West Bloomfield Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
193 | 220 | +14.0% |
Summary: The West Bloomfield Charter Township real estate market had 220 homes for sale in May 2024, a 14.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 40 | 35 | -12.5% |
3 Bedrooms | 63 | 67 | +6.3% |
4 Bedrooms | 65 | 87 | +33.8% |
5+ Bedrooms | 20 | 27 | +35.0% |
Summary: The West Bloomfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 33.8%, and 5+ bedroom homes increased by 35%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
65 | 62 | -4.6% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in West Bloomfield Charter Township in May 2024, down by 4.6% month-over-month. Of the 61 sold homes, 46% were sold under asking, 5% were sold at asking, and 49% were sold over asking.
Days on Market for West Bloomfield Charter Township, MI
How long does it take to sell a home in West Bloomfield Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 19 Days | -27.7% |
Summary: Homes in West Bloomfield Charter Township had an average of 19 days on market in May 2024, down by 27.7% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 62 homes were sold in West Bloomfield Charter Township; 84% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.