Is Brighton, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Brighton has remained a Seller's Market.
Key Takeaway
Brighton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Brighton, MI
How much do homes in Brighton, MI cost?
Median Sold Price
$411,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brighton have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in Brighton was $411,000 in April 2024, up 11.8% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.1K | $145K | +29.3% |
| 2 Bedrooms | $278K | $299.9K | +7.9% |
| 3 Bedrooms | $350K | $375K | +7.1% |
| 4 Bedrooms | $500K | $525K | +5.0% |
| 5+ Bedrooms | $556.5K | $650K | +16.8% |
Summary: Brighton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.3%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Brighton | $367.7K | $411K | +11.8% |
| Genoa Township | $360K | $401K | +11.4% |
| Green Oak Township | $391K | $430K | +10.0% |
| Brighton Township | $391.1K | $415K | +6.1% |
Housing Supply in Brighton, MI
How many homes are available in Brighton, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 136 | 171 | +25.7% |
Summary: The Brighton real estate market had 171 homes for sale in April 2024, a 25.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 27 | 29 | +7.4% |
| 3 Bedrooms | 65 | 75 | +15.4% |
| 4 Bedrooms | 34 | 50 | +47.1% |
| 5+ Bedrooms | 8 | 16 | +100.0% |
Summary: The Brighton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 47.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 54 | +63.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brighton, you could pay more than the asking price. 46.3% of homes here sold above asking price last month.
Summary: A total of 54 homes were sold or pending in Brighton in April 2024, up by 63.6% month-over-month. Of the 54 sold homes, 31% were sold under asking, 22% were sold at asking, and 46% were sold over asking.
Days on Market for Brighton, MI
How long does it take to sell a home in Brighton, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 68 Days | 22 Days | -66.8% |
Summary: Homes in Brighton had an average of 22 days on market in Apr 2024, down by 66.8% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brighton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 54 homes were sold in Brighton; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.