Is Northville Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Northville Township has remained a Seller's Market.
Key Takeaway
Northville Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northville Township, MI
How much do homes in Northville Township, MI cost?
Median Sold Price
$495,225
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Northville Township have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Northville Township was $495,225 in March 2024, down 1.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $143K | $156.2K | +9.3% |
| 2 Bedrooms | $269K | $284.9K | +5.9% |
| 3 Bedrooms | $440K | $450K | +2.3% |
| 4 Bedrooms | $665K | $643K | -3.3% |
| 5+ Bedrooms | $942.5K | $925K | -1.9% |
Summary: Northville Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Cities
| Plymouth Charter Township | $400K | $439.9K | +10.0% |
| Livonia | $264.7K | $284.9K | +7.6% |
| Northville | $502.6K | $499.5K | -0.6% |
| Novi | $435.2K | $432.1K | -0.7% |
| Northville Township | $503.1K | $495.2K | -1.6% |
Housing Supply in Northville Township, MI
How many homes are available in Northville Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 107 | 124 | +15.9% |
Summary: The Northville Township real estate market had 124 homes for sale in March 2024, a 15.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 35 | 34 | -2.9% |
| 3 Bedrooms | 39 | 42 | +7.7% |
| 4 Bedrooms | 20 | 28 | +40.0% |
| 5+ Bedrooms | 11 | 17 | +54.5% |
Summary: The Northville Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 54.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 34 | +9.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northville Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Northville Township in March 2024, up by 9.7% month-over-month. Of the 34 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for Northville Township, MI
How long does it take to sell a home in Northville Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 33 Days | -6.4% |
Summary: Homes in Northville Township had an average of 33 days on market in Mar 2024, down by 6.4% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northville Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 34 homes were sold in Northville Township; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 6% 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.