Is Bloomfield Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bloomfield Charter Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Bloomfield Charter Township has remained a Seller's Market.

Key Takeaway

Bloomfield Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bloomfield Charter Township, MI

How much do homes in Bloomfield Charter Township, MI cost?

Median Sold Price

$599,400

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$78,500(+15.1%)

Key Takeaway

Homes in Bloomfield Charter Township have sold for 15.1% more than they did a year ago.

Summary: The median home sold price in Bloomfield Charter Township was $599,400 in May 2024, up 15.1% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $110.4K$123K
+11.4%
2 $229.4K$224K
-2.4%
3 $444.9K$499.5K
+12.2%
4 $619K$704.5K
+13.8%
5+ $1.0M$920K
-14.8%

Summary: 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 11.4%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes decreased by 14.8%.

Median Sold Price Compared To Nearby Cities

Bloomfield Charter Township
+15.1%
Bloomfield Hills
+14.1%
Birmingham
+11.7%
Southfield Township
+6.3%
Franklin
-16.1%

Housing Supply in Bloomfield Charter Township, MI

How many homes are available in Bloomfield Charter Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
164220+34.1%

Summary: The Bloomfield Charter Township real estate market had 220 homes for sale in May 2024, a 34.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 1823
+27.8%
3 4864
+33.3%
4 7490
+21.6%
5+ 2341
+78.3%

Summary: The Bloomfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 78.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6057-5.0%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloomfield Charter Township, you may be able to get a good deal. 43.9% of homes here sold below asking price last month.

Summary: A total of 57 homes were sold or pending in Bloomfield Charter Township in May 2024, down by 5.0% month-over-month. Of the 57 sold homes, 44% were sold under asking, 14% were sold at asking, and 42% were sold over asking.

Days on Market for Bloomfield Charter Township, MI

How long does it take to sell a home in Bloomfield Charter Township, MI?

Average Sale Time

May 2023May 2024CHANGE
29 Days15 Days-46.4%

Summary: Homes in Bloomfield Charter Township had an average of 15 days on market in May 2024, down by 46.4% compared to last year.

Breakdown of Home Sale Times

48 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bloomfield Charter Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 57 homes were sold in Bloomfield Charter Township; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Bloomfield Charter Township, MI

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