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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bloomfield Hills is a buyer's market

Buyer's
Market

Difference Since July 2021

At the same time last year, Bloomfield Hills was a Seller's Market.

Key Takeaway

Bloomfield Hills is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Bloomfield Hills, MI cost?

Median Sold Price

$772,500

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$40,000(+5.5%)

Key Takeaway

Homes in Bloomfield Hills have sold for 5.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $95K$2K
-97.9%
2 $242.7K$280K
+15.3%
3 $237.5K$294.7K
+24.1%
4 $775K$879.5K
+13.5%
5+ $1.4M$1.7M
+17.2%

Median Sold Price Compared To Nearby Cities

Birmingham
+10.0%
Bloomfield Hills
+5.5%
Bloomfield Charter Township
+2.5%

How many homes are available in Bloomfield Hills, MI?

Number of Homes For Sale

Jun 2022Jul 2022%
44440.0%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 00
0.0%
2 54
-20.0%
3 713
+85.7%
4 1210
-16.7%
5+ 2017
-15.0%

Number of Homes Sold

Jun 2022Jul 2022%
134-69.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloomfield Hills, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
17 Days25 Days+44.3%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Bloomfield Hills, MI

There are 44 homes are for sale in Bloomfield Hills, MI real estate market. In July 2022, listings were on the market for 25 days. During the same period, the median list price in this real estate market was $772,500. Real estate listing prices changed between June 2022 and July 2022: prices of 1 bedroom properties went down by 97.9%, 2 bedrooms properties became 15.3% more expensive, the cost of 3 bedrooms properties went up by 24.1%, 4 bedrooms properties prices increased by 13.5%, 5 bedrooms properties prices increased by 17.2%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes inventory decreased by 20%, number of 3 bedrooms homes increased by 85.7%, volume of 4 bedrooms homes went down by 16.7%, 5 bedrooms homes inventory decreased by 15%. Bloomfield Hills, MI housing market in July 2022 saw over 2 listings sold above listed price, more than 0 sold at listed price and over 2 sold below.

Related Housing Market Reports