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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ray Township is a neutral's market

Buyer's
Market

Difference Since September 2021

At the same time last year, Ray Township was a Buyer's Market.

Key Takeaway

Ray Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Ray Township, MI cost?

Median Sold Price

$330,000

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$28,000(+9.3%)

Key Takeaway

Homes in Ray Township have sold for 9.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 --
N/A
2 $225K$129K
-42.7%
3 $333.5K$325K
-2.5%
4 $520K$545.4K
+4.9%
5+ -$550K
N/A

Median Sold Price Compared To Nearby Cities

Ray Township
+9.3%
Ray
+9.3%
Romeo
+9.2%
Lenox Township
+6.2%
Armada Township
-3.0%

How many homes are available in Ray Township, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
1318+38.5%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 00
0.0%
2 10
-100.0%
3 79
+28.6%
4 36
+100.0%
5+ 23
+50.0%

Number of Homes Sold

Aug 2022Sep 2022%
330.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ray Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
3 Days50 Days+1577.8%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Ray Township has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Ray Township, MI

Ray Township, MI has 18 homes on the market. The number of homes for sale in Ray Township, MI increased by 38.5% between August 2022 and September 2022. Listings spent 50 days on the market in September 2022, and had a median list price of $330,000 during the same period. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties went down by 42.7%, 3 bedrooms properties prices decreased by 2.5%, 4 bedrooms properties became 4.9% more expensive, the cost of 5 bedrooms properties went up by 0%. This housing market inventory have changed: the quantity of 1 bedroom homes have not changed, the quantity of 2 bedrooms homes went down by 100%, 3 bedrooms homes inventory increased by 28.6%, 4 bedrooms homes became 100% more available, the quantity of 5 bedrooms homes went up by 50%. Ray Township, MI housing market in September 2022 saw over 0 listings sold above listed price, more than 0 sold at listed price and over 3 sold below.

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