Is Redford Charter 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, Redford Charter Township has remained a Seller's Market.
Key Takeaway
Redford Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redford Charter Township, MI
How much do homes in Redford Charter Township, MI cost?
Median Sold Price
$161,383
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Redford Charter Township have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Redford Charter Township was $161,383 in March 2024, up 2.5% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $44.5K | $55K | +23.6% |
| 2 Bedrooms | $110K | $117.5K | +6.8% |
| 3 Bedrooms | $160K | $165K | +3.1% |
| 4 Bedrooms | $200K | $199.9K | 0% |
| 5+ Bedrooms | $199.9K | $255K | +27.6% |
Summary: Redford Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 27.6%.
Median Sold Price Compared To Nearby Cities
| Dearborn Heights | $170K | $185.8K | +9.3% |
| Redford | $155.4K | $161.9K | +4.2% |
| Southfield | $215K | $220.7K | +2.7% |
| Redford Charter Township | $157.4K | $161.3K | +2.5% |
| Detroit | $80.2K | $80.1K | -0.1% |
Housing Supply in Redford Charter Township, MI
How many homes are available in Redford Charter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 189 | 200 | +5.8% |
Summary: The Redford Charter Township real estate market had 200 homes for sale in March 2024, a 5.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 21 | 28 | +33.3% |
| 3 Bedrooms | 159 | 162 | +1.9% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Redford Charter Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 54 | 44 | -18.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redford Charter Township, you could pay more than the asking price. 47.7% of homes here sold above asking price last month.
Summary: A total of 44 homes were sold or pending in Redford Charter Township in March 2024, down by 18.5% month-over-month. Of the 44 sold homes, 25% were sold under asking, 27% were sold at asking, and 48% were sold over asking.
Days on Market for Redford Charter Township, MI
How long does it take to sell a home in Redford Charter Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 112 Days | 30 Days | -73.0% |
Summary: Homes in Redford Charter Township had an average of 30 days on market in Mar 2024, down by 73% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redford Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 44 homes were sold in Redford Charter Township; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.