Is Commerce 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 Township has remained a Seller's Market.
Housing Prices in Commerce Township, MI
How much do homes in Commerce Township, MI cost?
Median Sold Price
$457,400
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Commerce Township was $457,400 in March 2024, up 14.3% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $400K | $335K | -16.3% |
2 Bedrooms | $230K | $235K | +2.2% |
3 Bedrooms | $310K | $407K | +31.3% |
4 Bedrooms | $490K | $530K | +8.2% |
5+ Bedrooms | $625K | $632.4K | +1.2% |
Summary: Commerce Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Cities
Commerce Township | $400K | $457.4K | +14.3% |
Commerce Charter Township | $334.3K | $380K | +13.7% |
White Lake | $350K | $387.1K | +10.6% |
White Lake Charter Township | $350K | $386.9K | +10.5% |
Wixom | $330K | $355K | +7.6% |
Housing Supply in Commerce Township, MI
How many homes are available in Commerce Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 | 56 | +21.7% |
Summary: The Commerce Township real estate market had 56 homes for sale in March 2024, a 21.7% 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 | 5 | +66.7% |
3 Bedrooms | 19 | 30 | +57.9% |
4 Bedrooms | 21 | 16 | -23.8% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Commerce 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 66.7%, 3 bedroom homes increased by 57.9%, 4 bedroom homes decreased by 23.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 15 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Commerce Township in March 2024, the same as the previous month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Commerce Township, MI
How long does it take to sell a home in Commerce Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
136 Days | 55 Days | -59.5% |
Summary: Homes in Commerce Township had an average of 55 days on market in Mar 2024, down by 59.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in Commerce Township; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.