Is Orion Charter 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, 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
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
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $175K | N/A |
| 2 Bedrooms | $186.1K | $199K | +6.9% |
| 3 Bedrooms | $316K | $330K | +4.4% |
| 4 Bedrooms | $460K | $466K | +1.3% |
| 5+ Bedrooms | $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 | $585K | $740K | +26.5% |
| Oxford Charter Township | $365.6K | $400K | +9.4% |
| Lake Orion | $351.9K | $368.3K | +4.6% |
| Oakland Charter Township | $598.5K | $595K | -0.6% |
| Orion Charter Township | $375K | $370.8K | -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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 95 | +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
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 20 | +25.0% |
| 3 Bedrooms | 23 | 30 | +30.4% |
| 4 Bedrooms | 29 | 35 | +20.7% |
| 5+ Bedrooms | 6 | 10 | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 27 | +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
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 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 158 Days | 26 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
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.
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.