Is Green Oak 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, Green Oak Township has remained a Seller's Market.
Key Takeaway
Green Oak Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Green Oak Township, MI
How much do homes in Green Oak Township, MI cost?
Median Sold Price
$432,500
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Green Oak Township have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Green Oak Township was $432,500 in March 2024, up 8.1% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $176K | +0.6% |
| 2 Bedrooms | $195K | $180K | -7.7% |
| 3 Bedrooms | $360K | $400K | +11.1% |
| 4 Bedrooms | $500K | $510K | +2.0% |
| 5+ Bedrooms | $597.5K | $675K | +13.0% |
Summary: Green Oak Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| South Lyon | $387.5K | $439.4K | +13.4% |
| Whitmore Lake | $350K | $380K | +8.6% |
| Green Oak Township | $400K | $432.5K | +8.1% |
| Lyon Charter Township | $519.1K | $545K | +5.0% |
Housing Supply in Green Oak Township, MI
How many homes are available in Green Oak Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 40 | 65 | +62.5% |
Summary: The Green Oak Township real estate market had 65 homes for sale in March 2024, a 62.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 18 | 28 | +55.6% |
| 4 Bedrooms | 16 | 25 | +56.3% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Green Oak Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 56.3%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Green Oak Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Green Oak Township in March 2024, up by 16.7% month-over-month. Of the 14 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Green Oak Township, MI
How long does it take to sell a home in Green Oak Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 92 Days | 47 Days | -48.9% |
Summary: Homes in Green Oak Township had an average of 47 days on market in Mar 2024, down by 48.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Green Oak Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Green Oak Township; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
