Is Midtown, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Midtown was a Seller's Market.
Key Takeaway
Midtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Midtown, MI
How much do homes in Midtown, MI cost?
Median Sold Price
$131,760
$70/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Midtown have sold for 15% less than they did a year ago.
Summary: The median home sold price in Midtown was $131,760 in April 2024, down 15% from last year, and the median price per square foot was $70.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162K | $103K | -36.4% |
| 2 Bedrooms | $87.2K | $94K | +7.7% |
| 3 Bedrooms | $75K | $80K | +6.7% |
| 4 Bedrooms | $175K | $175K | 0.0% |
| 5+ Bedrooms | $262K | $265K | +1.1% |
Summary: Midtown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.4%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 6.7%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Boston-Edison | $350K | $390K | +11.4% |
| Rosa Parks | $137.5K | $127.5K | -7.3% |
| Midtown | $155K | $131.7K | -15.0% |
| Middle Woodward | $250K | $212.5K | -15.0% |
Housing Supply in Midtown, MI
How many homes are available in Midtown, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 239 | 261 | +9.2% |
Summary: The Midtown real estate market had 261 homes for sale in April 2024, a 9.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 22 | 27 | +22.7% |
| 3 Bedrooms | 103 | 117 | +13.6% |
| 4 Bedrooms | 67 | 70 | +4.5% |
| 5+ Bedrooms | 44 | 44 | 0.0% |
Summary: The Midtown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 27 | -3.6% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midtown, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Midtown in April 2024, down by 3.6% month-over-month. Of the 27 sold homes, 56% were sold under asking, 15% were sold at asking, and 30% were sold over asking.
Days on Market for Midtown, MI
How long does it take to sell a home in Midtown, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 88 Days | 31 Days | -64.1% |
Summary: Homes in Midtown had an average of 31 days on market in Apr 2024, down by 64.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midtown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in Midtown; 70% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.