Is Fayette 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, Fayette Township has remained a Seller's Market.
Housing Prices in Fayette Township, MI
How much do homes in Fayette Township, MI cost?
Median Sold Price
$185,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Fayette Township was $185,000 in March 2024, up 5.7% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $65K | -64.9% |
2 Bedrooms | $135K | $127.5K | -5.6% |
3 Bedrooms | $175K | $182K | +4.0% |
4 Bedrooms | $265K | $189.9K | -28.3% |
5+ Bedrooms | $174.9K | $315.2K | +80.2% |
Summary: Fayette Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.9%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 28.3%, and 5+ bedroom homes increased by 80.2%.
Median Sold Price Compared To Nearby Cities
Hillsdale | $150K | $190K | +26.7% |
Jonesville | $175K | $189.9K | +8.5% |
Fayette Township | $175K | $185K | +5.7% |
Housing Supply in Fayette Township, MI
How many homes are available in Fayette Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Summary: The Fayette Township real estate market had 14 homes for sale in March 2024, a 6.7% decrease 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 | 4 | +33.3% |
3 Bedrooms | 8 | 7 | -12.5% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Fayette 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 33.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Fayette Township in March 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Fayette Township, MI
How long does it take to sell a home in Fayette Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
5 Days | 50 Days | +809.1% |
Summary: Homes in Fayette Township had an average of 50 days on market in Mar 2024, up by 809.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Fayette Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.