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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Putnam Township is a seller's market

Buyer's
Market

Difference Since May 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

$339,900

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,900(+7.6%)

Key Takeaway

Homes in Putnam Township have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Putnam Township was $339,900 in May 2024, up 7.6% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $223K$180K
-19.3%
2 $232.5K$252K
+8.4%
3 $295K$329K
+11.5%
4 $433K$409.9K
-5.3%
5+ $338K$556.3K
+64.6%

Summary: Putnam Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.3%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 64.6%.

Median Sold Price Compared To Nearby Cities

Gregory
+20.9%
Dexter Township
+10.0%
Putnam Township
+7.6%
Unadilla Township
+7.4%
Pinckney
+7.1%

Housing Supply in Putnam Township, MI

How many homes are available in Putnam Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3844+15.8%

Summary: The Putnam Township real estate market had 44 homes for sale in May 2024, a 15.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 21
-50.0%
2 89
+12.5%
3 1316
+23.1%
4 1012
+20.0%
5+ 56
+20.0%

Summary: The Putnam Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
513+160.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Putnam Township, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Putnam Township in May 2024, up by 160.0% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% 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

May 2023May 2024CHANGE
14 Days33 Days+129.7%

Summary: Homes in Putnam Township had an average of 33 days on market in May 2024, up by 129.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Putnam Township; 77% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 15% 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 13 Days Ago

Newest Listings in Putnam Township, MI

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