Is Independence Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Independence Charter Township is a seller's market

Buyer's
Market

Difference Since August 2022

Since last year, Independence Charter Township has remained a Seller's Market.

Key Takeaway

Independence Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$15,400(+4.2%)

Key Takeaway

Homes in Independence Charter Township have sold for 4.2% more than they did a year ago.

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

# BEDSAug 2022Aug 2023CHANGE
1 $135K-
N/A
2 $220K$235K
+6.8%
3 $307.5K$328.5K
+6.8%
4 $485K$497.5K
+2.6%
5+ $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
+4.2%
Waterford
+3.6%
Clarkston
+2.3%
Springfield Charter Township
-6.9%

Housing Supply

How many homes are available in Independence Charter Township, MI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
109127+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

# BEDSJul 2023Aug 2023CHANGE
1 00
0.0%
2 910
+11.1%
3 5558
+5.5%
4 3345
+36.4%
5+ 1214
+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 2023Aug 2023CHANGE
3133+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Independence Charter Township, you could pay more than the asking price. 51.5% of homes here sold above asking price last month.

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 2022Aug 2023CHANGE
16 Days18 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Independence Charter Township are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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Nearby Markets

What housing markets are near Independence Charter Township, MI?