Is Milford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Milford has remained a Seller's Market.
Key Takeaway
Milford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milford, MI
How much do homes in Milford, MI cost?
Median Sold Price
$480,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Milford have sold for 27.8% more than they did a year ago.
Summary: The median home sold price in Milford was $480,000 in April 2024, up 27.8% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $135K | -25.0% |
| 2 Bedrooms | $240K | $260K | +8.3% |
| 3 Bedrooms | $325K | $380K | +16.9% |
| 4 Bedrooms | $500K | $585K | +17.0% |
| 5+ Bedrooms | $637.5K | $750K | +17.6% |
Summary: Milford housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Milford | $375.5K | $480K | +27.8% |
| Milford Charter Township | $415K | $480K | +15.7% |
Housing Supply in Milford, MI
How many homes are available in Milford, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 79 | +29.5% |
Summary: The Milford real estate market had 79 homes for sale in April 2024, a 29.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 16 | +23.1% |
| 3 Bedrooms | 22 | 31 | +40.9% |
| 4 Bedrooms | 22 | 28 | +27.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Milford 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 23.1%, 3 bedroom homes increased by 40.9%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milford, you could pay more than the asking price. 76.5% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Milford in April 2024, down by 10.5% month-over-month. Of the 17 sold homes, 24% were sold under asking, 0% were sold at asking, and 76% were sold over asking.
Days on Market for Milford, MI
How long does it take to sell a home in Milford, MI?
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milford are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in Milford; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% 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.