Is Elmwood Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
At the same time last year, Elmwood Charter Township was a Neutral Market.
Key Takeaway
Elmwood Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Elmwood Charter Township, MI cost?
Median Sold Price
$575,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
Key Takeaway
Homes in Elmwood Charter Township have sold for 27.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240K | $425K | +77.1% |
| 3 Bedrooms | $310K | $465K | +50.0% |
| 4 Bedrooms | $549K | $697.5K | +27.0% |
| 5+ Bedrooms | $685K | $2.9M | +323.4% |
Median Sold Price Compared To Nearby Cities
| Elmwood Charter Township | $450K | $575K | +27.8% |
| Traverse City | $367.7K | $425K | +15.6% |
How many homes are available in Elmwood Charter Township, MI?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 3 | 7 | +133.3% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 1 | 4 | +300.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elmwood Charter Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
How long does it take to sell a home in Elmwood Charter Township, MI?
How long does it take to sell a home in Elmwood Charter Township, MI?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 7 Days | 41 Days | +492.9% |
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elmwood Charter Township has remained consistent over time.
