Is Independence Charter Township, 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, Independence Charter Township has remained a Seller's Market.
Housing Prices
How much do homes in Independence Charter Township, MI cost?
Median Sold Price
$379,900
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in Independence Charter Township was $379,900 in August 2023, up 4.2% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | - | N/A |
2 Bedrooms | $220K | $235K | +6.8% |
3 Bedrooms | $307.5K | $328.5K | +6.8% |
4 Bedrooms | $485K | $497.5K | +2.6% |
5+ Bedrooms | $599K | $612K | +2.2% |
Summary: Independence Charter Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
Independence Charter Township | $364.5K | $379.9K | +4.2% |
Waterford | $233.6K | $242K | +3.6% |
Clarkston | $380.2K | $388.9K | +2.3% |
Springfield Charter Township | $403K | $375K | -6.9% |
Housing Supply
How many homes are available in Independence Charter Township, MI?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
109 | 127 | +16.5% |
Summary: The Independence Charter Township real estate market had 127 homes for sale in August 2023, a 16.5% 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 | 9 | 10 | +11.1% |
3 Bedrooms | 55 | 58 | +5.5% |
4 Bedrooms | 33 | 45 | +36.4% |
5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Independence Charter Township 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 increased by 11.1%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
31 | 33 | +6.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Independence Charter Township in August 2023, up by 6.5% month-over-month. Of the 33 sold homes, 21% were sold under asking, 27% were sold at asking, and 52% were sold over asking.
Days on Market
How long does it take to sell a home in Independence Charter Township, MI?
Average Sale Time
Aug 2022 | Aug 2023 | CHANGE |
---|---|---|
16 Days | 18 Days | +14.0% |
Summary: Homes in Independence Charter Township had an average of 18 days on market in Aug 2023, up by 14% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During August 2023, 33 homes were sold in Independence Charter Township; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.