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 May 2021

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.

How much do homes in Independence Charter Township, MI cost?

Median Sold Price

$354,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$29,000(+8.9%)

Key Takeaway

Homes in Independence Charter Township have sold for 8.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 -$3K
N/A
2 $285K$215K
-24.6%
3 $260K$295K
+13.5%
4 $407K$460.5K
+13.1%
5+ $509K$659.9K
+29.6%

Median Sold Price Compared To Nearby Cities

Springfield Charter Township
+11.0%
Clarkston
+10.5%
Waterford
+10.4%
Independence Charter Township
+8.9%

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

Number of Homes For Sale

Apr 2022May 2022%
118107-9.3%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 10
-100.0%
2 1011
+10.0%
3 5138
-25.5%
4 4543
-4.4%
5+ 1115
+36.4%

Number of Homes Sold

Apr 2022May 2022%
4232-23.8%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

24 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. 75% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
13 Days17 Days+24.7%

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was 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.

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

About Independence Charter Township, MI

Independence Charter Township, MI has 107 homes on the market. The inventory of homes for sale in Independence Charter Township, MI between April 2022 and May 2022 decreased by 9.3%. In May 2022, listings were on the market for 17 days. During the same period, the median list price in this real estate market was $354,000. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 0%, the cost of 2 bedrooms properties went down by 24.6%, prices of 3 bedrooms properties increased by 13.5%, prices of 4 bedrooms properties increased by 13.1%, prices of 5 bedrooms properties increased by 29.6%. Volume of homes for sale changed: volume of 1 bedroom homes went down by 100%, volume of 2 bedrooms homes went up by 10%, 3 bedrooms homes became 25.5% less available, the quantity of 4 bedrooms homes went down by 4.4%, number of 5 bedrooms homes increased by 36.4%. Independence Charter Township, MI housing market in May 2022 saw over 24 listings sold above listed price, more than 2 sold at listed price and over 6 sold below.

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