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 February 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

$582,608

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$62,608(+12.0%)

Key Takeaway

Homes in Bloomfield Charter Township have sold for 12% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $115K$120K
+4.3%
2 $240.7K$220K
-8.6%
3 $445K$500K
+12.4%
4 $610K$675K
+10.7%
5+ $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
+20.5%
Bloomfield Charter Township
+12.0%
Bloomfield Hills
+6.4%
Franklin
-15.3%
Southfield Township
-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 2024Feb 2024CHANGE
127139+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

# BEDSJan 2024Feb 2024CHANGE
1 67
+16.7%
2 1212
0.0%
3 2741
+51.9%
4 5753
-7.0%
5+ 2526
+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 2024Feb 2024CHANGE
3326-21.2%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

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. 69.2% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
3 Days46 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

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 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.

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

Report Updated 27 Days Ago

Newest Listings in Bloomfield Charter Township, MI

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