Is Dexter, 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, Dexter has remained a Seller's Market.
Key Takeaway
Dexter is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dexter, MI
How much do homes in Dexter, MI cost?
Median Sold Price
$495,550
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Dexter have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Dexter was $495,550 in March 2024, up 10.1% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $347K | $367.2K | +5.8% |
| 2 Bedrooms | $300K | $311.9K | +4.0% |
| 3 Bedrooms | $393.2K | $423.2K | +7.6% |
| 4 Bedrooms | $507.4K | $530K | +4.4% |
| 5+ Bedrooms | $714.5K | $625K | -12.5% |
Summary: Dexter housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Dexter | $450K | $495.5K | +10.1% |
| Scio Township | $502.6K | $533.7K | +6.2% |
| Webster Township | $543K | $532K | -2.0% |
Housing Supply in Dexter, MI
How many homes are available in Dexter, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 56 | 49 | -12.5% |
Summary: The Dexter real estate market had 49 homes for sale in March 2024, a 12.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 33 | 24 | -27.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Dexter 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 decreased by 100%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dexter, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Dexter in March 2024, down by 33.3% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for Dexter, MI
How long does it take to sell a home in Dexter, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 25 Days | -69.6% |
Summary: Homes in Dexter had an average of 25 days on market in Mar 2024, down by 69.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Dexter are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Dexter; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
