Is Frenchtown 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, Frenchtown Township has remained a Seller's Market.
Key Takeaway
Frenchtown Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Frenchtown Township, MI
How much do homes in Frenchtown Township, MI cost?
Median Sold Price
$217,450
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Frenchtown Township have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Frenchtown Township was $217,450 in March 2024, up 2.5% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $66.5K | $102.5K | +54.1% |
| 2 Bedrooms | $132.5K | $162.5K | +22.6% |
| 3 Bedrooms | $217.4K | $200K | -8.0% |
| 4 Bedrooms | $285.9K | $325.7K | +13.9% |
| 5+ Bedrooms | $322K | $293K | -9.0% |
Summary: Frenchtown Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.1%, 2 bedroom homes increased by 22.6%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes decreased by 9%.
Median Sold Price Compared To Nearby Cities
| Monroe | $169.2K | $203K | +19.9% |
| Monroe Charter Township | $180.6K | $203.5K | +12.7% |
| Frenchtown Township | $212.1K | $217.4K | +2.5% |
| Newport | $279.9K | $244.9K | -12.5% |
Housing Supply in Frenchtown Township, MI
How many homes are available in Frenchtown Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 54 | +12.5% |
Summary: The Frenchtown Township real estate market had 54 homes for sale in March 2024, a 12.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 33 | 39 | +18.2% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Frenchtown Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Frenchtown Township, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Frenchtown Township in March 2024, up by 20.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for Frenchtown Township, MI
How long does it take to sell a home in Frenchtown Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 90 Days | 27 Days | -69.6% |
Summary: Homes in Frenchtown Township had an average of 27 days on market in Mar 2024, down by 69.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Frenchtown Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Frenchtown Township; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.