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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shelby Charter Township is a seller's market

Buyer's
Market

Difference Since October 2021

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

Key Takeaway

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

How much do homes in Shelby Charter Township, MI cost?

Median Sold Price

$328,600

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$3,033(+0.9%)

Key Takeaway

Homes in Shelby Charter Township have sold for 0.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $85K$176.5K
+107.6%
2 $207.2K$230.5K
+11.2%
3 $295K$318K
+7.8%
4 $429.3K$515K
+19.9%
5+ $452.9K$577.5K
+27.5%

Median Sold Price Compared To Nearby Cities

Utica
+12.2%
Sterling Heights
+9.7%
Rochester
+9.5%
Rochester Hills
+9.1%
Shelby Charter Township
+0.9%

How many homes are available in Shelby Charter Township, MI?

Number of Homes For Sale

Sep 2022Oct 2022%
281249-11.4%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 10
-100.0%
2 5952
-11.9%
3 10389
-13.6%
4 10898
-9.3%
5+ 1010
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
9564-32.6%

Asking Price vs. Sold Price

43 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shelby Charter Township, you may be able to get a good deal. 67.2% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
21 Days32 Days+51.7%

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Shelby Charter 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 Shelby Charter Township, MI

Shelby Charter Township, MI has 249 homes for sale to choose from. The number of homes for sale in Shelby Charter Township, MI decreased by 11.4% between September 2022 and October 2022. Listings spent 32 days on the market in October 2022, and had a median list price of $328,600 during the same period. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 107.6%, prices of 2 bedrooms properties increased by 11.2%, prices of 3 bedrooms properties increased by 7.8%, 4 bedrooms properties became 19.9% more expensive, 5 bedrooms properties prices increased by 27.5%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory decreased by 100%, the quantity of 2 bedrooms homes went down by 11.9%, volume of 3 bedrooms homes went down by 13.6%, 4 bedrooms homes became 9.3% less available, volume of 5 bedrooms homes stayed the same. Shelby Charter Township, MI housing market in October 2022 saw over 12 listings sold above listed price, more than 9 sold at listed price and over 43 sold below.

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