Is Orion Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orion Charter Township is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Orion Charter Township has remained a Seller's Market.

Key Takeaway

Orion Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Orion Charter Township, MI

How much do homes in Orion Charter Township, MI cost?

Median Sold Price

$370,875

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$4,125(-1.1%)

Key Takeaway

Homes in Orion Charter Township have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in Orion Charter Township was $370,875 in March 2024, down 1.1% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$175K
N/A
2 $186.1K$199K
+6.9%
3 $316K$330K
+4.4%
4 $460K$466K
+1.3%
5+ $542.2K$598.2K
+10.3%

Summary: Orion Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 10.3%.

Median Sold Price Compared To Nearby Cities

Oakland
+26.5%
Oxford Charter Township
+9.4%
Lake Orion
+4.6%
Oakland Charter Township
-0.6%
Orion Charter Township
-1.1%

Housing Supply in Orion Charter Township, MI

How many homes are available in Orion Charter Township, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7495+28.4%

Summary: The Orion Charter Township real estate market had 95 homes for sale in March 2024, a 28.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1620
+25.0%
3 2330
+30.4%
4 2935
+20.7%
5+ 610
+66.7%

Summary: The Orion Charter Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1727+58.8%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orion Charter Township, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Orion Charter Township in March 2024, up by 58.8% month-over-month. Of the 27 sold homes, 48% were sold under asking, 7% were sold at asking, and 44% were sold over asking.

Days on Market for Orion Charter Township, MI

How long does it take to sell a home in Orion Charter Township, MI?

Average Sale Time

Mar 2023Mar 2024CHANGE
158 Days26 Days-83.5%

Summary: Homes in Orion Charter Township had an average of 26 days on market in Mar 2024, down by 83.5% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Orion Charter Township are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 27 homes were sold in Orion Charter Township; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Orion Charter Township, MI

Nearby Markets to Orion Charter Township, MI

What housing markets are near Orion Charter Township, MI?