Is Brighton Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$415,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Brighton Township have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Brighton Township was $415,000 in March 2024, up 8.4% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121.7K | $145K | +19.1% |
| 2 Bedrooms | $260K | $299.9K | +15.3% |
| 3 Bedrooms | $347.3K | $375K | +8.0% |
| 4 Bedrooms | $500K | $520K | +4.0% |
| 5+ Bedrooms | $609.7K | $628K | +3.0% |
Summary: Brighton Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
| Milford Charter Township | $415K | $485K | +16.9% |
| Brighton | $358.2K | $415K | +15.8% |
| Brighton Township | $382.9K | $415K | +8.4% |
| Green Oak Township | $400K | $432.5K | +8.1% |
| Hartland Township | $395K | $426.5K | +8.0% |
Housing Supply in Brighton Township, MI
How many homes are available in Brighton Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 121 | 134 | +10.7% |
Summary: The Brighton Township real estate market had 134 homes for sale in March 2024, a 10.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 30 | 27 | -10.0% |
| 3 Bedrooms | 54 | 62 | +14.8% |
| 4 Bedrooms | 30 | 32 | +6.7% |
| 5+ Bedrooms | 5 | 10 | +100.0% |
Summary: The Brighton Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 31 | -16.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brighton Township, you could pay more than the asking price. 48.4% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Brighton Township in March 2024, down by 16.2% month-over-month. Of the 31 sold homes, 29% were sold under asking, 23% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 98 Days | 51 Days | -47.4% |
Summary: Homes in Brighton Township had an average of 51 days on market in Mar 2024, down by 47.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brighton Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 31 homes were sold in Brighton Township; 58% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 19% 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.