Is Highland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Highland has remained a Seller's Market.
Key Takeaway
Highland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Highland, MI cost?
Median Sold Price
$313,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Highland have sold for 3.7% less than they did a year ago.
Summary: The median home sold price in Highland was $313,000 in August 2023, down 3.7% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $323K | +95.8% |
| 2 Bedrooms | $184K | $179.4K | -2.5% |
| 3 Bedrooms | $292.5K | $275K | -6.0% |
| 4 Bedrooms | $480K | $450K | -6.3% |
| 5+ Bedrooms | $640K | $450K | -29.7% |
Summary: Highland housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 95.8%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 29.7%.
Median Sold Price Compared To Nearby Cities
| Hartland Township | $370K | $415K | +12.2% |
| Milford Charter Township | $410K | $450.5K | +9.9% |
| White Lake Charter Township | $345K | $350K | +1.4% |
| Highland Charter Township | $326.5K | $324K | -0.8% |
| Highland | $324.9K | $313K | -3.7% |
Housing Supply
How many homes are available in Highland, MI?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 57 | 66 | +15.8% |
Summary: The Highland real estate market had 66 homes for sale in August 2023, a 15.8% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 14 | 21 | +50.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Highland housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Highland in August 2023, up by 6.3% month-over-month. Of the 17 sold homes, 29% were sold under asking, 24% were sold at asking, and 47% were sold over asking.
Days on Market
How long does it take to sell a home in Highland, MI?
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Highland are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 17 homes were sold in Highland; 59% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
