Is Harper Woods, 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, Harper Woods was a Seller's Market.
Key Takeaway
Harper Woods is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Harper Woods, MI
How much do homes in Harper Woods, MI cost?
Median Sold Price
$127,312
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Harper Woods have sold for 15.2% less than they did a year ago.
Summary: The median home sold price in Harper Woods was $127,312 in March 2024, down 15.2% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $38K | $47.5K | +25.0% |
| 2 Bedrooms | $73.9K | $75K | +1.4% |
| 3 Bedrooms | $159.9K | $141K | -11.8% |
| 4 Bedrooms | $167K | $175K | +4.8% |
| 5+ Bedrooms | $195K | $250.5K | +28.5% |
Summary: Harper Woods housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 1.4%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 28.5%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe Woods | $290K | $321K | +10.7% |
| Eastpointe | $140K | $150K | +7.1% |
| Saint Clair Shores | $210.4K | $222K | +5.5% |
| Detroit | $80.2K | $80.1K | -0.1% |
| Harper Woods | $150K | $127.3K | -15.2% |
Housing Supply in Harper Woods, MI
How many homes are available in Harper Woods, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 71 | 84 | +18.3% |
Summary: The Harper Woods real estate market had 84 homes for sale in March 2024, a 18.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 20 | 27 | +35.0% |
| 3 Bedrooms | 41 | 50 | +22.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Harper Woods housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 35%, 3 bedroom homes increased by 22%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Harper Woods, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Harper Woods in March 2024, up by 33.3% month-over-month. Of the 12 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% were sold over asking.
Days on Market for Harper Woods, MI
How long does it take to sell a home in Harper Woods, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 53 Days | -12.4% |
Summary: Homes in Harper Woods had an average of 53 days on market in Mar 2024, down by 12.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Harper Woods are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Harper Woods; 58% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 33% 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.