Is Bruce Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bruce Township was a Seller's Market.
Key Takeaway
Bruce Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bruce Township, MI
How much do homes in Bruce Township, MI cost?
Median Sold Price
$416,263
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bruce Township have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Bruce Township was $416,263 in March 2024, up 7.4% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | $75K | +25.0% |
| 2 Bedrooms | $368.4K | $260K | -29.4% |
| 3 Bedrooms | $355K | $397.4K | +12.0% |
| 4 Bedrooms | $538.9K | $481.9K | -10.6% |
| 5+ Bedrooms | $420K | $616.2K | +46.7% |
Summary: Bruce Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 29.4%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 46.7%.
Median Sold Price Compared To Nearby Cities
| Romeo | $293.5K | $328.6K | +12.0% |
| Bruce Township | $387.4K | $416.2K | +7.4% |
| Washington Township | $400K | $420K | +5.0% |
| Washington | $427K | $425K | -0.5% |
Housing Supply in Bruce Township, MI
How many homes are available in Bruce Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 28 | +12.0% |
Summary: The Bruce Township real estate market had 28 homes for sale in March 2024, a 12.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Bruce Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bruce Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Bruce Township in March 2024, down by 75.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Bruce Township, MI
How long does it take to sell a home in Bruce Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 1 Days | 12 Days | +733.3% |
Summary: Homes in Bruce Township had an average of 12 days on market in Mar 2024, up by 733.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bruce Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Bruce Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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