Is Madison 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, Madison Charter Township has remained a Seller's Market.
Key Takeaway
Madison Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison Charter Township, MI
How much do homes in Madison Charter Township, MI cost?
Median Sold Price
$205,567
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Madison Charter Township has remained the same since last year.
Summary: The median home sold price in Madison Charter Township was $205,567 in March 2024, up 0.3% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $132K | N/A |
| 2 Bedrooms | $165K | $190K | +15.2% |
| 3 Bedrooms | $205K | $211.5K | +3.2% |
| 4 Bedrooms | $250K | $267.4K | +7.0% |
| 5+ Bedrooms | $300K | $190K | -36.7% |
Summary: Madison 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 increased by 15.2%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 36.7%.
Median Sold Price Compared To Nearby Cities
| Adrian | $157.1K | $185K | +17.7% |
| Madison Charter Township | $205K | $205.5K | 0.3% |
| Adrian Township | $228K | $185K | -18.9% |
Housing Supply in Madison Charter Township, MI
How many homes are available in Madison Charter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 28 | +40.0% |
Summary: The Madison Charter Township real estate market had 28 homes for sale in March 2024, a 40.0% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 3 | 9 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Madison 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison Charter Township, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Madison Charter Township in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.
Days on Market for Madison Charter Township, MI
How long does it take to sell a home in Madison Charter Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 33 Days | 57 Days | +70.7% |
Summary: Homes in Madison Charter Township had an average of 57 days on market in Mar 2024, up by 70.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Madison Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Madison Charter Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.