Is Romeo, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Romeo is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, Romeo has remained a Seller's Market.

Key Takeaway

Romeo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Romeo, MI cost?

Median Sold Price

$271,950

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$49,450(+22.2%)

Key Takeaway

Homes in Romeo have sold for 22.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $135.2K$89.9K
-33.5%
2 $198K$164K
-17.2%
3 $225.9K$292.5K
+29.5%
4 $282K$301.2K
+6.8%
5+ $1.2M$240K
-80.8%

Median Sold Price Compared To Nearby Cities

Romeo
+22.2%
Bruce Township
+6.0%
Washington
+3.9%
Armada Township
+2.0%
Washington Township
+0.9%

How many homes are available in Romeo, MI?

Number of Homes For Sale

Apr 2022May 2022%
2317-26.1%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 32
-33.3%
2 116
-45.5%
3 64
-33.3%
4 12
+100.0%
5+ 23
+50.0%

Number of Homes Sold

Apr 2022May 2022%
86-25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Romeo, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
13 Days58 Days+346.4%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Romeo 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.

255 Sisson, Romeo, MI 48065

255 Sisson, Romeo, MI 48065

$240,000
864 SqFt
3 Bedrooms
~$1,100/mo.*2 Full Baths
#60105817
Listing Office:
Brookstone, Realtors LLCMLS logo
326 Ewell, Romeo, MI 48065

326 Ewell, Romeo, MI 48065

$280,000
1,477 SqFt
3 Bedrooms
~$1,300/mo.*1 Full Bath
#60101759
Listing Office:
EXP Realty ShelbyMLS logo

Backup Offers

329 W Saint Clair, Romeo, MI 48065

329 W Saint Clair, Romeo, MI 48065

$349,900
1,665 SqFt
4 Bedrooms
~$1,650/mo.*2 Full Baths
#60098328
Listing Office:
Coldwell Banker Weir Manuel-RochMLS logo
277 N Main, Romeo, MI 48065

277 N Main, Romeo, MI 48065

$359,900
3,400 SqFt
5 Bedrooms
~$1,700/mo.*2 Full Baths
#50072892
Listing Office:
Berkshire Hathaway HomeServices Kee Realty RochMLS logo
141 Dickenson, Romeo, MI 48065

141 Dickenson, Romeo, MI 48065

$350,000
4,140 SqFt
5 Bedrooms
~$1,650/mo.*3 Full Baths
#60041982
Listing Office:
EXP Realty LLCMLS logo
112 S Main St, Harrison, MI 48625

112 S Main St, Harrison, MI 48625

$32,500
600 SqFt
1 Bedroom
~$150/mo.*1 Full Bath
#50063229
Listing Office:
HARRISON REALTY INC.MLS logo
70161 Romeo Orch, Romeo, MI 48065

70161 Romeo Orch, Romeo, MI 48065

$560,000
1,640 SqFt
3 Bedrooms
~$2,600/mo.*2 Full Baths, 1 Partial
#60004503
Listing Office:
Arterra Realty Michigan LLCMLS logo
417 Prospect Unit 108, Romeo, MI 48065

417 Prospect Unit 108, Romeo, MI 48065

$69,900
600 SqFt
1 Bedroom
~$350/mo.*1 Full Bath
#40255290
Listing Office:
Wessel RealtyMLS logo
252 N Bailey, Romeo, MI 48065

252 N Bailey, Romeo, MI 48065

$214,900
1,262 SqFt
2 Bedrooms
~$1,000/mo.*2 Full Baths
#50055424
Listing Office:
Berkshire Hathaway HomeServices Kee Realty WashMLS logo

About Romeo, MI

Romeo, MI has 17 homes for sale to choose from. Between April 2022 and May 2022, Romeo, MI real estate market has seen decrease in the number of listings by 26.1%. While the average time on the market in May 2022 was 58 days, the median list price was $271,950. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices decreased by 33.5%, prices of 2 bedrooms properties decreased by 17.2%, 3 bedrooms properties prices increased by 29.5%, 4 bedrooms properties prices increased by 6.8%, 5 bedrooms properties prices decreased by 80.8%. This housing market inventory have changed: volume of 1 bedroom homes went down by 33.3%, 2 bedrooms homes became 45.5% less available, number of 3 bedrooms homes decreased by 33.3%, 4 bedrooms homes became 100% more available, the quantity of 5 bedrooms homes went up by 50%. Romeo, MI housing market in May 2022 saw over 4 listings sold above listed price, more than 1 sold at listed price and over 1 sold below.

MLS Disclaimers and Copyright

Based on information from MiRealSource Inc. for the period 06/01/2020 - 06/01/2022

IDX 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.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

Copyright 2022 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Note: Any Compensation information displayed on listing details is only applicable to other member participants of the source MLS.

Last updated on: 6/25/2022, 3:17:17 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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