$1,364 Closing Credit*
$114,900
1,296 SqFt
3 Beds
•2 Full Baths
DOUGLAS J DEMOTT, Listing Office: LEFERE REALTY
Is Fayette Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Fayette Township was a Seller's Market.
Key Takeaway
Fayette Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Fayette Township, MI
How much do homes in Fayette Township, MI cost?
Median Sold Price
$165,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$10,000(-5.7%)
Key Takeaway
Homes in Fayette Township have sold for 5.7% less than they did a year ago.
Summary: The median home sold price in Fayette Township was $165,000 in September 2024, down 5.7% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | - | N/A |
| 2 Bedrooms | $130.2K | $128K | -1.7% |
| 3 Bedrooms | $185K | $172K | -7.0% |
| 4 Bedrooms | $175K | $187.4K | +7.1% |
| 5+ Bedrooms | $379K | $295K | -22.2% |
Summary: Fayette Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 22.2%.
Median Sold Price Compared To Nearby Cities
| Hillsdale | $165K | $188K | +13.9% |
| Jonesville | $170K | $175K | +2.9% |
| Fayette Township | $175K | $165K | -5.7% |
Housing Supply in Fayette Township, MI
How many homes are available in Fayette Township, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Summary: The Fayette Township real estate market had 13 homes for sale in September 2024, a 7.1% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Fayette Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fayette Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Fayette Township in September 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 65 Days | 30 Days | -54.2% |
Summary: Homes in Fayette Township had an average of 30 days on market in Sep 2024, down by 54.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fayette Township are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 2 homes were sold in Fayette Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
