$2,255 Closing Credit*
$189,900
850 SqFt
3 Beds
•1 Full Bath
Michael J Krausman, Listing Office: Luxury Living Real Estate
Is Hazel Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Hazel Park was a Seller's Market.
Key Takeaway
Hazel Park 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 Hazel Park, MI
How much do homes in Hazel Park, MI cost?
Median Sold Price
$174,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$12,645(+7.8%)
Key Takeaway
Homes in Hazel Park have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Hazel Park was $174,000 in September 2024, up 7.8% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $139.9K | $135K | -3.5% |
| 2 Bedrooms | $137K | $150K | +9.5% |
| 3 Bedrooms | $174.9K | $178K | +1.8% |
| 4 Bedrooms | $194K | $217.5K | +12.1% |
| 5+ Bedrooms | $231.5K | $158.7K | -31.4% |
Summary: Hazel Park housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.5%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Madison Heights | $196.2K | $220K | +12.1% |
| Warren | $173K | $188.6K | +9.0% |
| Hazel Park | $161.3K | $174K | +7.8% |
| Detroit | $79K | $84.9K | +7.5% |
| Royal Oak | $330K | $344.9K | +4.5% |
Housing Supply in Hazel Park, MI
How many homes are available in Hazel Park, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 93 | 104 | +11.8% |
Summary: The Hazel Park real estate market had 104 homes for sale in September 2024, a 11.8% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 25 | 32 | +28.0% |
| 3 Bedrooms | 54 | 61 | +13.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Hazel Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 27 | 17 | -37.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hazel Park, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Hazel Park in September 2024, down by 37.0% month-over-month. Of the 17 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% were sold over asking.
Days on Market for Hazel Park, MI
How long does it take to sell a home in Hazel Park, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 12 Days | 27 Days | +111.8% |
Summary: Homes in Hazel Park had an average of 27 days on market in Sep 2024, up by 111.8% compared to last year.
Breakdown of Home Sale Times
13 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 Hazel Park are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 17 homes were sold in Hazel Park; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% 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.