Is Pontiac, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pontiac is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Pontiac has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Pontiac, MI

How much do homes in Pontiac, MI cost?

Median Sold Price

$139,278

$123/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$4,275(+3.2%)

Key Takeaway

Homes in Pontiac have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Pontiac was $139,278 in September 2024, up 3.2% from last year, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $115K$222.5K
+93.5%
2 $94K$105.5K
+12.2%
3 $130K$143.5K
+10.4%
4 $237.9K$218K
-8.4%
5+ $260.9K$230K
-11.9%

Summary: Pontiac housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.5%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes decreased by 11.9%.

Median Sold Price Compared To Nearby Cities

Waterford Charter Township
+7.6%
Pontiac
+3.2%
Auburn Hills
-1.4%
Sylvan Lake
-18.9%

Housing Supply in Pontiac, MI

How many homes are available in Pontiac, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
143144+0.7%

Summary: The Pontiac real estate market had 144 homes for sale in September 2024, a 0.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 01
+100.0%
2 3637
+2.8%
3 7476
+2.7%
4 2827
-3.6%
5+ 53
-40.0%

Summary: The Pontiac housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3927-30.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pontiac, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Pontiac in September 2024, down by 30.8% month-over-month. Of the 27 sold homes, 44% were sold under asking, 22% 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

Sep 2023Sep 2024CHANGE
21 Days36 Days+74.2%

Summary: Homes in Pontiac had an average of 36 days on market in Sep 2024, up by 74.2% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 27 homes were sold in Pontiac; 81% of homes were sold within 30 days, 15% 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 30 Days Ago

Newest Listings in Pontiac, MI

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