Is Bingham Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bingham Township was a Seller's Market.
Key Takeaway
Bingham Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bingham Township, MI
How much do homes in Bingham Township, MI cost?
Median Sold Price
$385,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bingham Township have sold for 27.7% more than they did a year ago.
Summary: The median home sold price in Bingham Township was $385,000 in March 2024, up 27.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $317.4K | $349.9K | +10.3% |
| 3 Bedrooms | $277.4K | $363.2K | +30.9% |
| 4 Bedrooms | $345K | $404K | +17.1% |
| 5+ Bedrooms | - | $710K | N/A |
Summary: Bingham Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bingham Township | $301.4K | $385K | +27.7% |
| Ovid Township | $155K | $192K | +23.9% |
| Saint Johns | $199K | $210K | +5.5% |
Housing Supply in Bingham Township, MI
How many homes are available in Bingham Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Bingham Township real estate market had 8 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Bingham Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Bingham Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Bingham Township in March 2024, down by 50.0% 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 Township, MI
How long does it take to sell a home in Bingham Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 77 Days | +1055.0% |
Summary: Homes in Bingham Township had an average of 77 days on market in Mar 2024, up by 1055% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bingham Township has remained consistent over time.
Summary: During March 2024, 1 homes were sold in Bingham Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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