Is Heritage Hill, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Heritage Hill has remained a Seller's Market.
Key Takeaway
Heritage Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Heritage Hill, MI
How much do homes in Heritage Hill, MI cost?
Median Sold Price
$318,900
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Heritage Hill have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in Heritage Hill was $318,900 in April 2024, down 1.9% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $185.5K | 0.3% |
| 2 Bedrooms | $250K | $275K | +10.0% |
| 3 Bedrooms | $530.7K | $562K | +5.9% |
| 4 Bedrooms | $540K | $567.5K | +5.1% |
| 5+ Bedrooms | $325K | $587.5K | +80.8% |
Summary: Heritage Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 80.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Heartside | $389.9K | $454K | +16.4% |
| Midtown | $245K | $285K | +16.3% |
| Heritage Hill | $325K | $318.9K | -1.9% |
| East Hills | $312K | $293K | -6.1% |
Housing Supply in Heritage Hill, MI
How many homes are available in Heritage Hill, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The Heritage Hill real estate market had 11 homes for sale in April 2024, a 22.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Heritage Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Heritage Hill, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Heritage Hill in April 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Heritage Hill, MI
How long does it take to sell a home in Heritage Hill, MI?
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Heritage Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Heritage Hill; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
