Is Selma Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Selma Township has remained a Seller's Market.
Key Takeaway
Selma Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Selma Township, MI
How much do homes in Selma Township, MI cost?
Median Sold Price
$300,000
$199/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Selma Township have sold for 76.5% more than they did a month ago.
Summary: The median home sold price in Selma Township was $300,000 in March 2024, up 76.5% from last month, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $170K | $300K | +76.5% |
| 3 Bedrooms | $150K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $394.5K | $325K | -17.6% |
Summary: Selma Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 76.5%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Boon | $150K | $325K | +116.7% |
| Selma Township | $170K | $300K | +76.5% |
| Haring Charter Township | $252.7K | $261K | +3.3% |
Housing Supply in Selma Township, MI
How many homes are available in Selma Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Summary: The Selma Township real estate market had 4 homes for sale in March 2024, a 42.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Selma 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 33.3%, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Selma Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Selma Township in March 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Selma Township, MI
How long does it take to sell a home in Selma Township, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 247 Days | +483.5% |
Summary: Homes in Selma Township had an average of 247 days on market in Mar 2024, up by 483.5% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Selma Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in Selma Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
