Is Hamtramck, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Hamtramck was a Seller's Market.
Housing Prices in Hamtramck, MI
How much do homes in Hamtramck, MI cost?
Median Sold Price
$150,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hamtramck was $150,000 in March 2024, down 4.5% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $120K | N/A |
2 Bedrooms | $112.5K | $98K | -12.9% |
3 Bedrooms | $150K | $145K | -3.3% |
4 Bedrooms | $177.5K | $173K | -2.5% |
5+ Bedrooms | $177.5K | $215K | +21.1% |
Summary: Hamtramck 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 decreased by 12.9%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 21.1%.
Median Sold Price Compared To Nearby Cities
Detroit | $80.2K | $80.1K | -0.1% |
Hamtramck | $157K | $150K | -4.5% |
Housing Supply in Hamtramck, MI
How many homes are available in Hamtramck, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 65 | +14.0% |
Summary: The Hamtramck real estate market had 65 homes for sale in March 2024, a 14.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 10 | 12 | +20.0% |
3 Bedrooms | 27 | 28 | +3.7% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Hamtramck 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 20%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 6 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Hamtramck in March 2024, down by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Hamtramck, MI
How long does it take to sell a home in Hamtramck, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
6 Days | 33 Days | +450.0% |
Summary: Homes in Hamtramck had an average of 33 days on market in Mar 2024, up by 450% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Hamtramck; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.