Is Oakland / Winchell, 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, Oakland / Winchell has remained a Seller's Market.
Key Takeaway
Oakland / Winchell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakland / Winchell, MI
How much do homes in Oakland / Winchell, MI cost?
Median Sold Price
$315,250
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Oakland / Winchell have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Oakland / Winchell was $315,250 in April 2024, up 6.9% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $184.2K | $220K | +19.4% |
| 3 Bedrooms | $297.5K | $304K | +2.2% |
| 4 Bedrooms | $320K | $359K | +12.2% |
| 5+ Bedrooms | $406.5K | $465K | +14.4% |
Summary: Oakland / Winchell 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 19.4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 14.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Westnedge Hill | $208.5K | $269.5K | +29.3% |
| Vine | $145K | $162.4K | +12.0% |
| Oakland / Winchell | $295K | $315.2K | +6.9% |
Housing Supply in Oakland / Winchell, MI
How many homes are available in Oakland / Winchell, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Oakland / Winchell real estate market had 11 homes for sale in April 2024, a 8.3% decrease 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Oakland / Winchell 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 decreased by 33.3%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland / Winchell, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Oakland / Winchell in April 2024, up by 500.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Oakland / Winchell, MI
How long does it take to sell a home in Oakland / Winchell, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 0 Days | 7 Days | +1466.7% |
Summary: Homes in Oakland / Winchell had an average of 7 days on market in Apr 2024, up by 1466.7% compared to last year.
Breakdown of Home Sale Times
5 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 Oakland / Winchell are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Oakland / Winchell; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
