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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Martin Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Martin Township, MI

How much do homes in Martin Township, MI cost?

Median Sold Price

$269,000

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,000(+7.6%)

Key Takeaway

Homes in Martin Township have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Martin Township was $269,000 in February 2024, up 7.6% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $200K$582.5K
+191.3%
3 $250K$238.2K
-4.7%
4 $221K$303K
+37.1%
5+ $300K$282.5K
-5.8%

Summary: Martin Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 191.3%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 37.1%, and 5+ bedroom homes decreased by 5.8%.

Median Sold Price Compared To Nearby Cities

Wayland Township
+10.7%
Martin Township
+7.6%

Housing Supply in Martin Township, MI

How many homes are available in Martin Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
330.0%

Summary: The Martin Township real estate market had 3 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 22
0.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Martin Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Martin Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in Martin Township in February 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Martin Township, MI

How long does it take to sell a home in Martin Township, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
134 Days25 Days-81.3%

Summary: Homes in Martin Township had an average of 25 days on market in Feb 2024, down by 81.3% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 2 homes were sold in Martin Township; 50% of homes were sold within 30 days, 50% 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 28 Days Ago

Newest Listings in Martin Township, MI

Nearby Markets to Martin Township, MI

What housing markets are near Martin Township, MI?