Is Hazel Park, 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, Hazel Park has remained a Seller's Market.
Housing Prices in Hazel Park, MI
How much do homes in Hazel Park, MI cost?
Median Sold Price
$165,333
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hazel Park was $165,333 in March 2024, up 3.3% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139.9K | $97.9K | -30.0% |
2 Bedrooms | $130K | $145K | +11.5% |
3 Bedrooms | $175K | $175K | 0.0% |
4 Bedrooms | $192K | $199.9K | +4.1% |
5+ Bedrooms | $234.5K | $206.5K | -11.9% |
Summary: Hazel Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30%, 2 bedroom homes increased by 11.5%, 3 bedroom homes did not change, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 11.9%.
Median Sold Price Compared To Nearby Cities
Royal Oak | $315.4K | $344.2K | +9.1% |
Warren | $173.3K | $184.2K | +6.3% |
Hazel Park | $160K | $165.3K | +3.3% |
Madison Heights | $200K | $201.5K | +0.8% |
Detroit | $80.2K | $80.1K | -0.1% |
Housing Supply in Hazel Park, MI
How many homes are available in Hazel Park, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
66 | 75 | +13.6% |
Summary: The Hazel Park real estate market had 75 homes for sale in March 2024, a 13.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 29 | 31 | +6.9% |
3 Bedrooms | 29 | 32 | +10.3% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Hazel Park 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 6.9%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 20 | +25.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Hazel Park in March 2024, up by 25.0% month-over-month. Of the 20 sold homes, 60% were sold under asking, 30% were sold at asking, and 10% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
87 Days | 43 Days | -50.1% |
Summary: Homes in Hazel Park had an average of 43 days on market in Mar 2024, down by 50.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in Hazel Park; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.