Is Milwood, 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, Milwood has remained a Seller's Market.
Key Takeaway
Milwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milwood, MI
How much do homes in Milwood, MI cost?
Median Sold Price
$206,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Milwood have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Milwood was $206,000 in April 2024, up 5.6% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | - | N/A |
| 2 Bedrooms | $165K | $171.5K | +4.0% |
| 3 Bedrooms | $195K | $220K | +12.8% |
| 4 Bedrooms | $242.5K | $213.2K | -12.1% |
| 5+ Bedrooms | $150K | $205K | +36.7% |
Summary: Milwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes increased by 36.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Edison | $114K | $120.7K | +5.9% |
| Milwood | $195K | $206K | +5.6% |
Housing Supply in Milwood, MI
How many homes are available in Milwood, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Summary: The Milwood real estate market had 26 homes for sale in April 2024, a 36.8% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 14 | 20 | +42.9% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Milwood 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 remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milwood, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Milwood in April 2024, up by 83.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Milwood, MI
How long does it take to sell a home in Milwood, MI?
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milwood are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in Milwood; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
