Is Highland Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Highland Park was a Seller's Market.
Key Takeaway
Highland Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Highland Park, MI
How much do homes in Highland Park, MI cost?
Median Sold Price
$46,000
$30/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Highland Park have sold for 8% less than they did a month ago.
Summary: The median home sold price in Highland Park was $46,000 in March 2024, down 8% from last month, and the median price per square foot was $30.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $56.2K | $16K | -71.6% |
| 3 Bedrooms | $28.4K | $48K | +68.7% |
| 4 Bedrooms | $169.9K | - | N/A |
| 5+ Bedrooms | $211.5K | - | N/A |
Summary: Highland Park housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 71.6%, 3 bedroom homes increased by 68.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Highland Park, MI
How many homes are available in Highland Park, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 77 | 82 | +6.5% |
Summary: The Highland Park real estate market had 82 homes for sale in March 2024, a 6.5% 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 44 | 49 | +11.4% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Highland 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 decreased by 28.6%, 3 bedroom homes increased by 11.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 4 | -69.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland Park, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Highland Park in March 2024, down by 69.2% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Highland Park, MI
How long does it take to sell a home in Highland Park, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 86 Days | 53 Days | -37.7% |
Summary: Homes in Highland Park had an average of 53 days on market in Mar 2024, down by 37.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Highland Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Highland Park; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.