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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fenton is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Fenton, MI

How much do homes in Fenton, MI cost?

Median Sold Price

$338,375

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$18,375(+5.7%)

Key Takeaway

Homes in Fenton have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Fenton was $338,375 in May 2024, up 5.7% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $182.4K$229K
+25.5%
2 $248.9K$230K
-7.6%
3 $295K$321K
+8.8%
4 $393.7K$439.9K
+11.7%
5+ $652.4K$500K
-23.4%

Summary: Fenton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.5%, 2 bedroom homes decreased by 7.6%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 23.4%.

Median Sold Price Compared To Nearby Cities

Fenton
+5.7%
Fenton
+5.7%
Fenton Charter Township
+4.7%
Rose Township
+2.8%
Tyrone Township
-0.5%

Housing Supply in Fenton, MI

How many homes are available in Fenton, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
120157+30.8%

Summary: The Fenton real estate market had 157 homes for sale in May 2024, a 30.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 03
+100.0%
2 2723
-14.8%
3 6375
+19.0%
4 2443
+79.2%
5+ 613
+116.7%

Summary: The Fenton 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 14.8%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 79.2%, and 5+ bedroom homes increased by 116.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3637+2.8%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fenton, you could pay more than the asking price. 40.5% of homes here sold above asking price last month.

Summary: A total of 37 homes were sold or pending in Fenton in May 2024, up by 2.8% month-over-month. Of the 37 sold homes, 27% were sold under asking, 32% were sold at asking, and 41% were sold over asking.

Days on Market for Fenton, MI

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

Average Sale Time

May 2023May 2024CHANGE
37 Days21 Days-42.7%

Summary: Homes in Fenton had an average of 21 days on market in May 2024, down by 42.7% compared to last year.

Breakdown of Home Sale Times

30 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 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 37 homes were sold in Fenton; 81% of homes were sold within 30 days, 14% 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 13 Days Ago

Newest Listings in Fenton, MI

Nearby Markets to Fenton, MI

What housing markets are near Fenton, MI?