Is Commerce Charter 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, 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
$380,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Commerce Charter Township have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Commerce Charter Township was $380,000 in March 2024, up 13.7% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $241.2K | $335K | +38.9% |
| 2 Bedrooms | $246K | $265K | +7.7% |
| 3 Bedrooms | $308K | $334K | +8.4% |
| 4 Bedrooms | $485K | $520K | +7.2% |
| 5+ Bedrooms | $625K | $624.9K | 0% |
Summary: Commerce Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.9%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Commerce Township | $400K | $457.4K | +14.3% |
| Commerce Charter Township | $334.3K | $380K | +13.7% |
| Wixom | $330K | $355K | +7.6% |
| Wolverine Lake | $280K | $300K | +7.1% |
| Walled Lake | $249.9K | $264.9K | +6.0% |
Housing Supply in Commerce Charter Township, MI
How many homes are available in Commerce Charter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 97 | 116 | +19.6% |
Summary: The Commerce Charter Township real estate market had 116 homes for sale in March 2024, a 19.6% 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 | 21 | 27 | +28.6% |
| 3 Bedrooms | 39 | 51 | +30.8% |
| 4 Bedrooms | 30 | 30 | 0.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Commerce Charter 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 increased by 28.6%, 3 bedroom homes increased by 30.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 32 | +10.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Commerce Charter Township, you could pay more than the asking price. 40.6% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Commerce Charter Township in March 2024, up by 10.3% month-over-month. Of the 32 sold homes, 34% were sold under asking, 25% were sold at asking, and 41% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 117 Days | 39 Days | -66.0% |
Summary: Homes in Commerce Charter Township had an average of 39 days on market in Mar 2024, down by 66% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Commerce Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in Commerce Charter Township; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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