Is Scio Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Scio Township was a Seller's Market.
Key Takeaway
Scio Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Scio Township, MI
How much do homes in Scio Township, MI cost?
Median Sold Price
$533,783
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Scio Township have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Scio Township was $533,783 in March 2024, up 6.2% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345.5K | $349.5K | +1.1% |
| 2 Bedrooms | $313.5K | $303.8K | -3.1% |
| 3 Bedrooms | $450K | $461.5K | +2.6% |
| 4 Bedrooms | $602K | $617.5K | +2.6% |
| 5+ Bedrooms | $844.5K | $748K | -11.4% |
Summary: Scio Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 11.4%.
Median Sold Price Compared To Nearby Cities
| Dexter | $450K | $495.5K | +10.1% |
| Ann Arbor | $449.3K | $490K | +9.0% |
| Ann Arbor Charter Township | $454.7K | $490K | +7.8% |
| Scio Township | $502.6K | $533.7K | +6.2% |
| Webster Township | $543K | $532K | -2.0% |
Housing Supply in Scio Township, MI
How many homes are available in Scio Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 61 | +3.4% |
Summary: The Scio Township real estate market had 61 homes for sale in March 2024, a 3.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 12 | -25.0% |
| 3 Bedrooms | 18 | 25 | +38.9% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Scio Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 8 | -42.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Scio Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Scio Township in March 2024, down by 42.9% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Scio Township, MI
How long does it take to sell a home in Scio Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 77 Days | 27 Days | -64.9% |
Summary: Homes in Scio Township had an average of 27 days on market in Mar 2024, down by 64.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Scio Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Scio Township; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.