Is Center Line, 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, Center Line has remained a Seller's Market.
Key Takeaway
Center Line is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Center Line, MI
How much do homes in Center Line, MI cost?
Median Sold Price
$165,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Center Line have sold for 10% more than they did a year ago.
Summary: The median home sold price in Center Line was $165,000 in March 2024, up 10% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $52.2K | - | N/A |
| 2 Bedrooms | $125K | $151K | +20.8% |
| 3 Bedrooms | $160K | $169.2K | +5.8% |
| 4 Bedrooms | $165K | $202K | +22.4% |
| 5+ Bedrooms | $251.1K | $165K | -34.3% |
Summary: Center Line housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes decreased by 34.3%.
Median Sold Price Compared To Nearby Cities
| Center Line | $150K | $165K | +10.0% |
| Warren | $173.3K | $184.2K | +6.3% |
Housing Supply in Center Line, MI
How many homes are available in Center Line, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Summary: The Center Line real estate market had 20 homes for sale in March 2024, a 33.3% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Center Line 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 33.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Center Line, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Center Line in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Center Line, MI
How long does it take to sell a home in Center Line, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 107 Days | 51 Days | -51.6% |
Summary: Homes in Center Line had an average of 51 days on market in Mar 2024, down by 51.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Center Line are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Center Line; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.