Is Scio Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Scio Township is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Scio Township, MI cost?

Median Sold Price

$502,640

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$102,740(+25.7%)

Key Takeaway

Homes in Scio Township have sold for 25.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $355K$292.5K
-17.6%
2 $250K$325K
+30.0%
3 $366K$418.7K
+14.4%
4 $482K$565K
+17.2%
5+ $633.1K$830K
+31.1%

Median Sold Price Compared To Nearby Cities

Scio Township
+25.7%
Webster Township
+12.5%
Ann Arbor
+10.9%
Dexter
+10.8%
Ann Arbor Charter Township
+4.0%

How many homes are available in Scio Township, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
6176+24.6%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 612
+100.0%
3 2020
0.0%
4 2632
+23.1%
5+ 912
+33.3%

Number of Homes Sold

Jul 2022Aug 2022%
1517+13.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Scio Township, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
32 Days26 Days-19.6%

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Scio Township 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.

About Scio Township, MI

Scio Township, MI has 76 homes on the market. Between July 2022 and August 2022, Scio Township, MI real estate market has seen increase in the number of listings by 24.6%. While the average time on the market in August 2022 was 26 days, the median list price was $502,640. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties decreased by 17.6%, the cost of 2 bedrooms properties went up by 30%, 3 bedrooms properties prices increased by 14.4%, prices of 4 bedrooms properties increased by 17.2%, the cost of 5 bedrooms properties went up by 31.1%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory did not change, number of 2 bedrooms homes increased by 100%, number of 3 bedrooms homes remained the same, volume of 4 bedrooms homes went up by 23.1%, number of 5 bedrooms homes increased by 33.3%. Scio Township, MI housing market in August 2022 saw over 11 listings sold above listed price, more than 0 sold at listed price and over 6 sold below.

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