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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Commerce Charter Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Commerce Charter Township, MI

How much do homes in Commerce Charter Township, MI cost?

Median Sold Price

$379,660

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,910(+4.4%)

Key Takeaway

Homes in Commerce Charter Township have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Commerce Charter Township was $379,660 in November 2024, up 4.4% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $208.7K$335K
+60.5%
2 $258.5K$276K
+6.8%
3 $325K$380K
+16.9%
4 $500K$515K
+3.0%
5+ $624.9K$750K
+20.0%

Summary: Commerce Charter Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60.5%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 20%.

Median Sold Price Compared To Nearby Cities

Walled Lake
+9.4%
Commerce Township
+8.0%
Commerce Charter Township
+4.4%
Wolverine Lake
+1.7%
Wixom
+1.7%

Housing Supply in Commerce Charter Township, MI

How many homes are available in Commerce Charter Township, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
154140-9.1%

Summary: The Commerce Charter Township real estate market had 140 homes for sale in November 2024, a 9.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 2928
-3.4%
3 7965
-17.7%
4 4142
+2.4%
5+ 45
+25.0%

Summary: The Commerce Charter Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 17.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3830-21.1%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Commerce Charter Township, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Commerce Charter Township in November 2024, down by 21.1% month-over-month. Of the 30 sold homes, 63% were sold under asking, 17% were sold at asking, and 20% were sold over asking.

Days on Market for Commerce Charter Township, MI

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

Average Sale Time

Nov 2023Nov 2024CHANGE
28 Days35 Days+26.2%

Summary: Homes in Commerce Charter Township had an average of 35 days on market in Nov 2024, up by 26.2% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 30 homes were sold in Commerce Charter Township; 50% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 7% 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 8 Days Ago

Newest Listings in Commerce Charter Township, MI

Nearby Markets to Commerce Charter Township, MI

What housing markets are near Commerce Charter Township, MI?