Is Edison, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Edison has remained a Seller's Market.
Key Takeaway
Edison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Edison, MI
How much do homes in Edison, MI cost?
Median Sold Price
$120,750
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Edison have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Edison was $120,750 in April 2024, up 5.9% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $100K | $121.5K | +21.5% |
| 3 Bedrooms | $112.3K | $125K | +11.2% |
| 4 Bedrooms | $120K | $115K | -4.2% |
| 5+ Bedrooms | $105.9K | $147.5K | +39.3% |
Summary: Edison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.5%, 3 bedroom homes increased by 11.2%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 39.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Edison | $114K | $120.7K | +5.9% |
| Milwood | $195K | $206K | +5.6% |
| Eastside | $115K | $105K | -8.7% |
| Central Business District | $273K | $220K | -19.4% |
Housing Supply in Edison, MI
How many homes are available in Edison, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 40 | +33.3% |
Summary: The Edison real estate market had 40 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 13 | 20 | +53.8% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Edison housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 53.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Edison, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Edison in April 2024, up by 42.9% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Edison, MI
How long does it take to sell a home in Edison, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 41 Days | 14 Days | -66.2% |
Summary: Homes in Edison had an average of 14 days on market in Apr 2024, down by 66.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Edison are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Edison; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
