$5,344 Closing Credit*
$449,990
2,320 SqFt
3 Beds
•2 Full Baths, 1 Partial
Kristina Martin, Listing Office: Arterra Realty Michigan LLC
Is Romeo, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
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.
Housing Prices in Romeo, MI
How much do homes in Romeo, MI cost?
Median Sold Price
$395,500
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$86,500(+28.0%)
Key Takeaway
Homes in Romeo have sold for 28% more than they did a year ago.
Summary: The median home sold price in Romeo was $395,500 in September 2024, up 28% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77.5K | $60K | -22.6% |
| 2 Bedrooms | $249K | $261.2K | +4.9% |
| 3 Bedrooms | $318.8K | $406.4K | +27.5% |
| 4 Bedrooms | $313K | $464.5K | +48.4% |
| 5+ Bedrooms | $247.5K | $375K | +51.5% |
Summary: Romeo housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.6%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 27.5%, 4 bedroom homes increased by 48.4%, and 5+ bedroom homes increased by 51.5%.
Median Sold Price Compared To Nearby Cities
| Romeo | $309K | $395.5K | +28.0% |
| Bruce Township | $401.2K | $443K | +10.4% |
| Washington | $436.9K | $447.5K | +2.4% |
| Washington Township | $427.2K | $431.4K | +1.0% |
Housing Supply in Romeo, MI
How many homes are available in Romeo, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Summary: The Romeo real estate market had 20 homes for sale in September 2024, the same as August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Romeo housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Romeo, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Romeo in September 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Romeo, MI
How long does it take to sell a home in Romeo, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 58 Days | 53 Days | -8.9% |
Summary: Homes in Romeo had an average of 53 days on market in Sep 2024, down by 8.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Romeo are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 5 homes were sold in Romeo; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% 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.