Is Pontiac, 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, Pontiac has remained a Seller's Market.
Housing Prices in Pontiac, MI
How much do homes in Pontiac, MI cost?
Median Sold Price
$134,933
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Pontiac was $134,933 in March 2024, up 11.6% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $44.5K | $175K | +293.3% |
2 Bedrooms | $85K | $96K | +12.9% |
3 Bedrooms | $127.1K | $137.5K | +8.2% |
4 Bedrooms | $176K | $230.9K | +31.2% |
5+ Bedrooms | $253.4K | $253.9K | 0.2% |
Summary: Pontiac housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 293.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 31.2%, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Cities
Pontiac | $120.9K | $134.9K | +11.6% |
Auburn Hills | $245K | $268.7K | +9.7% |
Waterford Charter Township | $244.7K | $249.3K | +1.9% |
Sylvan Lake | $327.5K | $305K | -6.9% |
Housing Supply in Pontiac, MI
How many homes are available in Pontiac, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
161 | 159 | -1.2% |
Summary: The Pontiac real estate market had 159 homes for sale in March 2024, a 1.2% decrease 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 | 47 | 40 | -14.9% |
3 Bedrooms | 70 | 80 | +14.3% |
4 Bedrooms | 33 | 32 | -3.0% |
5+ Bedrooms | 11 | 7 | -36.4% |
Summary: The Pontiac 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 decreased by 14.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 36.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 42 | +13.5% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in Pontiac in March 2024, up by 13.5% month-over-month. Of the 42 sold homes, 38% were sold under asking, 29% were sold at asking, and 33% were sold over asking.
Days on Market for Pontiac, MI
How long does it take to sell a home in Pontiac, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
84 Days | 38 Days | -54.6% |
Summary: Homes in Pontiac had an average of 38 days on market in Mar 2024, down by 54.6% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 42 homes were sold in Pontiac; 55% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.