Is Bloomfield Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Bloomfield Charter Township has remained a Seller's Market.
Housing Prices in Bloomfield Charter Township, MI
How much do homes in Bloomfield Charter Township, MI cost?
Median Sold Price
$582,608
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Bloomfield Charter Township was $582,608 in February 2024, up 12% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $120K | +4.3% |
2 Bedrooms | $240.7K | $220K | -8.6% |
3 Bedrooms | $445K | $500K | +12.4% |
4 Bedrooms | $610K | $675K | +10.7% |
5+ Bedrooms | $1.1M | $935K | -19.7% |
Summary: Bloomfield Charter Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 19.7%.
Median Sold Price Compared To Nearby Cities
Birmingham | $602K | $725.6K | +20.5% |
Bloomfield Charter Township | $520K | $582.6K | +12.0% |
Bloomfield Hills | $562.4K | $598.1K | +6.4% |
Franklin | $844K | $715K | -15.3% |
Southfield Township | $338.3K | $259K | -23.4% |
Housing Supply in Bloomfield Charter Township, MI
How many homes are available in Bloomfield Charter Township, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
127 | 139 | +9.4% |
Summary: The Bloomfield Charter Township real estate market had 139 homes for sale in February 2024, a 9.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 7 | +16.7% |
2 Bedrooms | 12 | 12 | 0.0% |
3 Bedrooms | 27 | 41 | +51.9% |
4 Bedrooms | 57 | 53 | -7.0% |
5+ Bedrooms | 25 | 26 | +4.0% |
Summary: The Bloomfield Charter Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 51.9%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes increased by 4%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
33 | 26 | -21.2% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Bloomfield Charter Township in February 2024, down by 21.2% month-over-month. Of the 26 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
3 Days | 46 Days | +1459.0% |
Summary: Homes in Bloomfield Charter Township had an average of 46 days on market in Feb 2024, up by 1459% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 26 homes were sold in Bloomfield Charter Township; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.