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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mayfield Township is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Mayfield Township was a Neutral Market.

Key Takeaway

Mayfield Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Mayfield Township, MI

How much do homes in Mayfield Township, MI cost?

Median Sold Price

$167,000

$146/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$98,000(-37.0%)

Key Takeaway

Homes in Mayfield Township have sold for 37% less than they did a month ago.

Summary: The median home sold price in Mayfield Township was $167,000 in September 2024, down 37% from last month, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 --
N/A
3 $265K$167K
-37.0%
4 --
N/A
5+ --
N/A

Summary: Mayfield Township housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 37%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Mayfield Township, MI

How many homes are available in Mayfield Township, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
13130.0%

Summary: The Mayfield Township real estate market had 13 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 109
-10.0%
4 33
0.0%
5+ 00
0.0%

Summary: The Mayfield Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mayfield Township, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Mayfield Township in September 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Mayfield Township, MI

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

Average Sale Time

Aug 2024Sep 2024CHANGE
44 Days68 Days+52.8%

Summary: Homes in Mayfield Township had an average of 68 days on market in Sep 2024, up by 52.8% compared to last month.

Breakdown of Home Sale Times

0 Homes Were 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

Avg time on Rocket Homes in Mayfield Township has remained consistent over time.

Summary: During September 2024, 1 homes were sold in Mayfield Township; 0% of homes were sold within 30 days, 100% 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 30 Days Ago

Newest Listings in Mayfield Township, MI

Nearby Markets to Mayfield Township, MI

What housing markets are near Mayfield Township, MI?