$1,602 Closing Credit*
$134,900
816 SqFt
3 Beds
•1 Full Bath
Mark Dunger, Listing Office: Real Estate One, Southgate
Is Romulus, 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, Romulus has remained a Seller's Market.
Key Takeaway
Romulus is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Romulus, MI
How much do homes in Romulus, MI cost?
Median Sold Price
$205,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$30,000(+17.1%)
Key Takeaway
Homes in Romulus have sold for 17.1% more than they did a year ago.
Summary: The median home sold price in Romulus was $205,000 in September 2024, up 17.1% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | - | N/A |
| 2 Bedrooms | $156.5K | $134K | -14.4% |
| 3 Bedrooms | $169.9K | $196K | +15.4% |
| 4 Bedrooms | $282K | $315K | +11.7% |
| 5+ Bedrooms | $344.5K | $340K | -1.3% |
Summary: Romulus housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.4%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 1.3%.
Median Sold Price Compared To Nearby Cities
| Romulus | $175K | $205K | +17.1% |
| Wayne | $146K | $170.1K | +16.5% |
| Taylor | $156.6K | $172.4K | +10.1% |
| Huron Charter Township | $315K | $340K | +7.9% |
| Westland | $194.7K | $210K | +7.8% |
Housing Supply in Romulus, MI
How many homes are available in Romulus, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 89 | 86 | -3.4% |
Summary: The Romulus real estate market had 86 homes for sale in September 2024, a 3.4% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 62 | 58 | -6.5% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Romulus housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 26 | 17 | -34.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Romulus, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Romulus in September 2024, down by 34.6% month-over-month. Of the 17 sold homes, 41% were sold under asking, 18% were sold at asking, and 41% were sold over asking.
Days on Market for Romulus, MI
How long does it take to sell a home in Romulus, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 15 Days | 30 Days | +96.2% |
Summary: Homes in Romulus had an average of 30 days on market in Sep 2024, up by 96.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Romulus are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 17 homes were sold in Romulus; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% 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.