Is Ford Woods, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Ford Woods was a Neutral Market.
Key Takeaway
Ford Woods is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ford Woods, MI
How much do homes in Ford Woods, MI cost?
Median Sold Price
$240,000
$175/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Ford Woods have sold for 3.6% more than they did a month ago.
Summary: The median home sold price in Ford Woods was $240,000 in April 2024, up 3.6% from last month, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $231.6K | $223K | -3.7% |
| 4 Bedrooms | - | $267K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Ford Woods housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 3.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Ford Woods, MI
How many homes are available in Ford Woods, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The Ford Woods real estate market had 13 homes for sale in April 2024, a 8.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Ford Woods housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ford Woods, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Ford Woods in April 2024, up by 250.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Ford Woods, MI
How long does it take to sell a home in Ford Woods, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 20 Days | +12.7% |
Summary: Homes in Ford Woods had an average of 20 days on market in Apr 2024, up by 12.7% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ford Woods are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Ford Woods; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
