Is Putnam 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, Putnam Township has remained a Seller's Market.
Key Takeaway
Putnam Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Putnam Township, MI
How much do homes in Putnam Township, MI cost?
Median Sold Price
$340,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Putnam Township have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Putnam Township was $340,000 in March 2024, up 9.7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223K | - | N/A |
| 2 Bedrooms | $223K | $318K | +42.6% |
| 3 Bedrooms | $297.4K | $330K | +10.9% |
| 4 Bedrooms | $447K | $429K | -4.0% |
| 5+ Bedrooms | $379.9K | $410K | +7.9% |
Summary: Putnam 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 42.6%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Gregory | $269.9K | $310K | +14.8% |
| Pinckney | $342K | $377K | +10.2% |
| Putnam Township | $310K | $340K | +9.7% |
| Dexter Township | $448.5K | $490.2K | +9.3% |
| Unadilla Township | $265K | $269.2K | +1.6% |
Housing Supply in Putnam Township, MI
How many homes are available in Putnam Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The Putnam Township real estate market had 26 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Putnam Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Putnam Township, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Putnam Township in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% were sold over asking.
Days on Market for Putnam Township, MI
How long does it take to sell a home in Putnam Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 113 Days | 32 Days | -71.3% |
Summary: Homes in Putnam Township had an average of 32 days on market in Mar 2024, down by 71.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Putnam Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Putnam Township; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
