Is Bingham Farms, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Bingham Farms was a Seller's Market.
Housing Prices in Bingham Farms, MI
How much do homes in Bingham Farms, MI cost?
Median Sold Price
$562,500
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Bingham Farms was $562,500 in June 2024, up 28.1% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $419.9K | $402.5K | -4.1% |
3 Bedrooms | $433.5K | $515K | +18.8% |
4 Bedrooms | $575.1K | $737.5K | +28.2% |
5+ Bedrooms | $1.5M | $1.6M | +8.5% |
Summary: Bingham Farms housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
Bingham Farms | $439K | $562.5K | +28.1% |
Beverly Hills | $455K | $513K | +12.7% |
Southfield Township | $250K | $266K | +6.4% |
Southfield | $215K | $225.1K | +4.7% |
Franklin | $859K | $727K | -15.4% |
Housing Supply in Bingham Farms, MI
How many homes are available in Bingham Farms, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Summary: The Bingham Farms real estate market had 7 homes for sale in June 2024, a 16.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 3 | 3 | 0.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Bingham Farms housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Bingham Farms in June 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Bingham Farms, MI
How long does it take to sell a home in Bingham Farms, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 1 homes were sold in Bingham Farms; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.