Is Scio Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Scio Township was a Seller's Market.
Key Takeaway
Scio Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Scio Township, MI
How much do homes in Scio Township, MI cost?
Median Sold Price
$536,250
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
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 $536,250 in November 2023, up 6.2% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $321.5K | $350.5K | +9.0% |
| 2 Bedrooms | $318K | $300K | -5.7% |
| 3 Bedrooms | $435K | $460K | +5.7% |
| 4 Bedrooms | $583.6K | $640K | +9.7% |
| 5+ Bedrooms | $830K | $680K | -18.1% |
Summary: Scio Township housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes decreased by 5.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 18.1%.
Median Sold Price Compared To Nearby Cities
| Ann Arbor | $424.9K | $475.1K | +11.8% |
| Dexter | $450K | $491.5K | +9.2% |
| Scio Township | $505K | $536.2K | +6.2% |
| Ann Arbor Charter Township | $491.7K | $479.9K | -2.4% |
| Webster Township | $580K | $525K | -9.5% |
Housing Supply in Scio Township, MI
How many homes are available in Scio Township, MI?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 73 | 66 | -9.6% |
Summary: The Scio Township real estate market had 66 homes for sale in November 2023, a 9.6% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 15 | -11.8% |
| 3 Bedrooms | 24 | 23 | -4.2% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Scio Township housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.8%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 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. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Scio Township in November 2023, down by 35.3% month-over-month. Of the 11 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 50 Days | 31 Days | -37.4% |
Summary: Homes in Scio Township had an average of 31 days on market in Nov 2023, down by 37.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 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 November 2023, 11 homes were sold in Scio Township; 55% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
