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 September 2023

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.

Housing Prices in Shelby Charter Township, MI

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

Median Sold Price

$358,533

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$18,558(+5.5%)

Key Takeaway

Homes in Shelby Charter Township have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in Shelby Charter Township was $358,533 in September 2024, up 5.5% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $152K$125K
-17.8%
2 $241K$245K
+1.7%
3 $320K$347.9K
+8.7%
4 $547K$525K
-4.0%
5+ $540K$627.5K
+16.2%

Summary: Shelby Charter Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.8%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 16.2%.

Median Sold Price Compared To Nearby Cities

Utica
+16.6%
Sterling Heights
+7.1%
Shelby Charter Township
+5.5%
Macomb Township
+3.6%
Macomb
+3.6%

Housing Supply in Shelby Charter Township, MI

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

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
262286+9.2%

Summary: The Shelby Charter Township real estate market had 286 homes for sale in September 2024, a 9.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 8182
+1.2%
3 8895
+8.0%
4 87100
+14.9%
5+ 69
+50.0%

Summary: The Shelby Charter Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
7455-25.7%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

20 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. 50.9% of homes here sold below asking price last month.

Summary: A total of 55 homes were sold or pending in Shelby Charter Township in September 2024, down by 25.7% month-over-month. Of the 55 sold homes, 51% were sold under asking, 13% were sold at asking, and 36% were sold over asking.

Days on Market for Shelby Charter Township, MI

How long does it take to sell a home in Shelby Charter Township, MI?

Average Sale Time

Sep 2023Sep 2024CHANGE
32 Days23 Days-25.6%

Summary: Homes in Shelby Charter Township had an average of 23 days on market in Sep 2024, down by 25.6% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

Summary: During September 2024, 55 homes were sold in Shelby Charter Township; 73% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 2% 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 30 Days Ago

Newest Listings in Shelby Charter Township, MI

Nearby Markets to Shelby Charter Township, MI

What housing markets are near Shelby Charter Township, MI?