Is Brighton Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Brighton Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Brighton Township has remained a Seller's Market.

Key Takeaway

Brighton Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Brighton Township, MI

How much do homes in Brighton Township, MI cost?

Median Sold Price

$414,000

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$14,000(+3.5%)

Key Takeaway

Homes in Brighton Township have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Brighton Township was $414,000 in May 2024, up 3.5% from last year, and the median price per square foot was $224.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $149.9K$141.2K
-5.8%
2 $282.5K$300K
+6.2%
3 $357K$375K
+5.0%
4 $505.5K$535K
+5.8%
5+ $577.5K$682.5K
+18.2%

Summary: Brighton Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 18.2%.

Median Sold Price Compared To Nearby Cities

Milford Charter Township
+19.5%
Green Oak Township
+7.8%
Brighton Township
+3.5%
Brighton
+3.3%
Hartland Township
+2.5%

Housing Supply in Brighton Township, MI

How many homes are available in Brighton Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
181195+7.7%

Summary: The Brighton Township real estate market had 195 homes for sale in May 2024, a 7.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 13
+200.0%
2 3335
+6.1%
3 7878
0.0%
4 5257
+9.6%
5+ 1722
+29.4%

Summary: The Brighton Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 6.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 29.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5744-22.8%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Brighton Township, you could pay more than the asking price. 47.7% of homes here sold above asking price last month.

Summary: A total of 44 homes were sold or pending in Brighton Township in May 2024, down by 22.8% month-over-month. Of the 44 sold homes, 39% were sold under asking, 14% were sold at asking, and 48% were sold over asking.

Days on Market for Brighton Township, MI

How long does it take to sell a home in Brighton Township, MI?

Average Sale Time

May 2023May 2024CHANGE
23 Days27 Days+17.8%

Summary: Homes in Brighton Township had an average of 27 days on market in May 2024, up by 17.8% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 44 homes were sold in Brighton Township; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% 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 13 Days Ago

Newest Listings in Brighton Township, MI

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