Is Fenton Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fenton Charter Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Fenton Charter Township has remained a Seller's Market.

Key Takeaway

Fenton Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Fenton Charter Township, MI

How much do homes in Fenton Charter Township, MI cost?

Median Sold Price

$340,208

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,208(+4.7%)

Key Takeaway

Homes in Fenton Charter Township have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Fenton Charter Township was $340,208 in May 2024, up 4.7% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $182.4K$95K
-47.9%
2 $249.9K$230K
-8.0%
3 $300K$330K
+10.0%
4 $395K$430K
+8.9%
5+ $630K$513K
-18.6%

Summary: Fenton Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.9%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 18.6%.

Median Sold Price Compared To Nearby Cities

Linden
+6.4%
Fenton
+5.7%
Fenton
+5.7%
Fenton Charter Township
+4.7%
Holly Township
-0.3%

Housing Supply in Fenton Charter Township, MI

How many homes are available in Fenton Charter Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
152195+28.3%

Summary: The Fenton Charter Township real estate market had 195 homes for sale in May 2024, a 28.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 03
+100.0%
2 3026
-13.3%
3 7991
+15.2%
4 3458
+70.6%
5+ 917
+88.9%

Summary: The Fenton Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 70.6%, and 5+ bedroom homes increased by 88.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4643-6.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fenton Charter Township, you could pay more than the asking price. 44.2% of homes here sold above asking price last month.

Summary: A total of 43 homes were sold or pending in Fenton Charter Township in May 2024, down by 6.5% month-over-month. Of the 43 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% were sold over asking.

Days on Market for Fenton Charter Township, MI

How long does it take to sell a home in Fenton Charter Township, MI?

Average Sale Time

May 2023May 2024CHANGE
33 Days19 Days-42.5%

Summary: Homes in Fenton Charter Township had an average of 19 days on market in May 2024, down by 42.5% compared to last year.

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fenton Charter Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 43 homes were sold in Fenton Charter Township; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Fenton Charter Township, MI

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What housing markets are near Fenton Charter Township, MI?