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 March 2023
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 in Independence Charter Township, MI
How much do homes in Independence Charter Township, MI cost?
Median Sold Price
$382,499
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Independence Charter Township have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Independence Charter Township was $382,499 in March 2024, up 2.5% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $251K | $235K | -6.4% |
| 3 Bedrooms | $310K | $331K | +6.8% |
| 4 Bedrooms | $508.2K | $480K | -5.6% |
| 5+ Bedrooms | $600K | $625K | +4.2% |
Summary: Independence Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Independence Charter Township | $373K | $382.4K | +2.5% |
| Waterford | $244.8K | $249.2K | +1.8% |
| Clarkston | $387.9K | $386K | -0.5% |
| Springfield Charter Township | $390K | $369.9K | -5.2% |
| Village of Clarkston | $413K | $385K | -6.8% |
Housing Supply in Independence Charter Township, MI
How many homes are available in Independence Charter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 65 | 73 | +12.3% |
Summary: The Independence Charter Township real estate market had 73 homes for sale in March 2024, a 12.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 23 | 34 | +47.8% |
| 4 Bedrooms | 25 | 22 | -12.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Independence Charter Township 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 16.7%, 3 bedroom homes increased by 47.8%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 16 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence Charter Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Independence Charter Township in March 2024, down by 33.3% month-over-month. Of the 16 sold homes, 19% were sold under asking, 31% were sold at asking, and 50% were sold over asking.
Days on Market for Independence Charter Township, MI
How long does it take to sell a home in Independence Charter Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 85 Days | 21 Days | -75.4% |
Summary: Homes in Independence Charter Township had an average of 21 days on market in Mar 2024, down by 75.4% compared to last year.
Breakdown of Home Sale Times
14 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 Independence Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in Independence Charter Township; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.