Is Brightmoor, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Brightmoor was a Seller's Market.
Key Takeaway
Brightmoor is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brightmoor, MI
How much do homes in Brightmoor, MI cost?
Median Sold Price
$60,000
$65/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brightmoor have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Brightmoor was $60,000 in April 2024, up 5.3% from last year, and the median price per square foot was $65.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $48.5K | $38.7K | -20.1% |
| 3 Bedrooms | $72K | $70K | -2.8% |
| 4 Bedrooms | $37.2K | $72.5K | +94.6% |
| 5+ Bedrooms | $175K | - | N/A |
Summary: Brightmoor housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.1%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 94.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Rosedale Park | $185K | $207K | +11.9% |
| Minock Park | $89.4K | $96K | +7.3% |
| Brightmoor | $57K | $60K | +5.3% |
| Rosedale | $170K | $165K | -2.9% |
Housing Supply in Brightmoor, MI
How many homes are available in Brightmoor, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 37 | +5.7% |
Summary: The Brightmoor real estate market had 37 homes for sale in April 2024, a 5.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 25 | 24 | -4.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Brightmoor housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Brightmoor, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Brightmoor in April 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Brightmoor, MI
How long does it take to sell a home in Brightmoor, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Brightmoor are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in Brightmoor; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
