Is Hamburg 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, Hamburg Township has remained a Seller's Market.
Key Takeaway
Hamburg Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hamburg Township, MI
How much do homes in Hamburg Township, MI cost?
Median Sold Price
$406,666
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hamburg Township have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Hamburg Township was $406,666 in March 2024, up 6.7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $211.5K | N/A |
| 2 Bedrooms | $267.4K | $365K | +36.5% |
| 3 Bedrooms | $350K | $371K | +6.0% |
| 4 Bedrooms | $440K | $475K | +8.0% |
| 5+ Bedrooms | $640K | $499K | -22.0% |
Summary: Hamburg Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 36.5%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 22%.
Median Sold Price Compared To Nearby Cities
| Brighton | $358.2K | $415K | +15.8% |
| Whitmore Lake | $350K | $380K | +8.6% |
| Hamburg Township | $381K | $406.6K | +6.7% |
Housing Supply in Hamburg Township, MI
How many homes are available in Hamburg Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 56 | 58 | +3.6% |
Summary: The Hamburg Township real estate market had 58 homes for sale in March 2024, a 3.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 21 | 24 | +14.3% |
| 4 Bedrooms | 26 | 23 | -11.5% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Hamburg Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 17 | +70.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hamburg Township, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Hamburg Township in March 2024, up by 70.0% month-over-month. Of the 17 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.
Days on Market for Hamburg Township, MI
How long does it take to sell a home in Hamburg Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 23 Days | -57.2% |
Summary: Homes in Hamburg Township had an average of 23 days on market in Mar 2024, down by 57.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hamburg Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in Hamburg Township; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.