Is Canton, 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, Canton has remained a Seller's Market.
Key Takeaway
Canton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Canton, MI
How much do homes in Canton, MI cost?
Median Sold Price
$368,550
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Canton have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Canton was $368,550 in March 2024, up 5.3% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142.4K | $160K | +12.3% |
| 2 Bedrooms | $233K | $250K | +7.3% |
| 3 Bedrooms | $325K | $349.8K | +7.6% |
| 4 Bedrooms | $440K | $499.9K | +13.6% |
| 5+ Bedrooms | $623.7K | $660K | +5.8% |
Summary: Canton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Plymouth Charter Township | $400K | $439.9K | +10.0% |
| Wayne | $146.5K | $161K | +9.8% |
| Canton Charter Township | $350K | $368.9K | +5.4% |
| Canton | $350K | $368.5K | +5.3% |
| Westland | $190K | $200K | +5.3% |
Housing Supply in Canton, MI
How many homes are available in Canton, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 173 | 201 | +16.2% |
Summary: The Canton real estate market had 201 homes for sale in March 2024, a 16.2% 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 | 43 | 48 | +11.6% |
| 3 Bedrooms | 70 | 82 | +17.1% |
| 4 Bedrooms | 54 | 61 | +13.0% |
| 5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The Canton 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 increased by 11.6%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 69 | +43.8% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Canton, you could pay more than the asking price. 46.4% of homes here sold above asking price last month.
Summary: A total of 69 homes were sold or pending in Canton in March 2024, up by 43.8% month-over-month. Of the 69 sold homes, 36% were sold under asking, 17% were sold at asking, and 46% were sold over asking.
Days on Market for Canton, MI
How long does it take to sell a home in Canton, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 18 Days | -73.1% |
Summary: Homes in Canton had an average of 18 days on market in Mar 2024, down by 73.1% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Canton are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 69 homes were sold in Canton; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.