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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Redford Charter Township is a seller's market

Buyer's
Market

Difference Since August 2021

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.

How much do homes in Redford Charter Township, MI cost?

Median Sold Price

$157,993

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$22,193(+16.3%)

Key Takeaway

Homes in Redford Charter Township have sold for 16.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $34.5K$46.5K
+34.8%
2 $92.3K$113.5K
+23.0%
3 $139.5K$160K
+14.6%
4 $171.5K$172.5K
+0.6%
5+ $186K$170K
-8.6%

Median Sold Price Compared To Nearby Cities

Redford Charter Township
+16.3%
Redford
+14.7%
Livonia
+8.3%
Southfield
+8.1%
Farmington Hills
+7.8%

How many homes are available in Redford Charter Township, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
187216+15.5%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 12
+100.0%
2 2223
+4.5%
3 149170
+14.1%
4 1418
+28.6%
5+ 13
+200.0%

Number of Homes Sold

Jul 2022Aug 2022%
3859+55.3%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Redford Charter Township, you could pay more than the asking price. 54.2% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
18 Days18 Days-3.1%

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Redford Charter Township, MI

Redford Charter Township, MI has 216 homes on the market. The number of listings in Redford Charter Township, MI increased by 15.5% between July 2022 and August 2022. Listings spent 18 days on the market in August 2022, and had a median list price of $157,993 during the same period. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 34.8%, prices of 2 bedrooms properties went up by 23%, 3 bedrooms properties became 14.6% more expensive, 4 bedrooms properties became 0.6% more expensive, 5 bedrooms properties became 8.6% more cheaper. This housing market inventory have changed: the quantity of 1 bedroom homes went up by 100%, number of 2 bedrooms homes increased by 4.5%, the quantity of 3 bedrooms homes went up by 14.1%, 4 bedrooms homes inventory increased by 28.6%, number of 5 bedrooms homes increased by 200%. In August 2022 more than 32 listings in Redford Charter Township, MI were sold above the asking price. During the same period more than 8 listings were sold at asking price, while more than 19 were sold below.

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