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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Selma Township is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Selma Township was a Seller's Market.

Key Takeaway

Selma 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 Selma Township, MI

How much do homes in Selma Township, MI cost?

Median Sold Price

$442,500

$430/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$263,000(+146.5%)

Key Takeaway

Homes in Selma Township have sold for 146.5% more than they did a month ago.

Summary: The median home sold price in Selma Township was $442,500 in November 2024, up 146.5% from last month, and the median price per square foot was $430.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $196K-
N/A
3 $179.5K$442.5K
+146.5%
4 --
N/A
5+ --
N/A

Summary: Selma Township housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 146.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Selma Township
+146.5%
Colfax Township
+5.2%
Cherry Grove Township
-75.7%

Housing Supply in Selma Township, MI

How many homes are available in Selma Township, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
96-33.3%

Summary: The Selma Township real estate market had 6 homes for sale in November 2024, a 33.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 64
-33.3%
4 11
0.0%
5+ 00
0.0%

Summary: The Selma Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Selma Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Selma Township in November 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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

Oct 2024Nov 2024CHANGE
99 Days3 Days-97.0%

Summary: Homes in Selma Township had an average of 3 days on market in Nov 2024, down by 97% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Selma Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1 homes were sold in Selma Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Selma Township, MI

Nearby Markets to Selma Township, MI

What housing markets are near Selma Township, MI?