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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Davison Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Davison Township, MI

How much do homes in Davison Township, MI cost?

Median Sold Price

$239,900

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$1,766(-0.7%)

Key Takeaway

Homes in Davison Township have sold for 0.7% less than they did a year ago.

Summary: The median home sold price in Davison Township was $239,900 in February 2024, down 0.7% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $120K$198K
+65.0%
2 $176.9K$188K
+6.3%
3 $219.9K$240.3K
+9.3%
4 $299.4K$295K
-1.5%
5+ $288.4K$349.9K
+21.3%

Summary: Davison Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 65%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 9.3%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 21.3%.

Median Sold Price Compared To Nearby Cities

Richfield Township
+12.3%
Davison
+12.1%
Elba Township
+3.7%
Hadley Township
+2.7%
Davison Township
-0.7%

Housing Supply in Davison Township, MI

How many homes are available in Davison Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7083+18.6%

Summary: The Davison Township real estate market had 83 homes for sale in February 2024, a 18.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 813
+62.5%
3 3943
+10.3%
4 1723
+35.3%
5+ 64
-33.3%

Summary: The Davison Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 62.5%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2128+33.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Davison Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in Davison Township in February 2024, up by 33.3% month-over-month. Of the 28 sold homes, 32% were sold under asking, 18% were sold at asking, and 50% were sold over asking.

Days on Market for Davison Township, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
44 Days23 Days-46.8%

Summary: Homes in Davison Township had an average of 23 days on market in Feb 2024, down by 46.8% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 28 homes were sold in Davison Township; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% 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 18 Days Ago

Newest Listings in Davison Township, MI

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