Is Shelby Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$339,995
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Shelby Charter Township have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Shelby Charter Township was $339,995 in April 2024, up 1.6% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69.5K | $125K | +79.9% |
| 2 Bedrooms | $230K | $250K | +8.7% |
| 3 Bedrooms | $320K | $338.4K | +5.8% |
| 4 Bedrooms | $527.5K | $516K | -2.2% |
| 5+ Bedrooms | $629K | $540K | -14.1% |
Summary: Shelby Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 79.9%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Utica | $270.5K | $486K | +79.7% |
| Sterling Heights | $279.4K | $295K | +5.6% |
| Macomb Township | $410.1K | $426.8K | +4.1% |
| Macomb | $410K | $426.5K | +4.0% |
| Shelby Charter Township | $334.5K | $339.9K | +1.6% |
Housing Supply in Shelby Charter Township, MI
How many homes are available in Shelby Charter Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 149 | 205 | +37.6% |
Summary: The Shelby Charter Township real estate market had 205 homes for sale in April 2024, a 37.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 39 | 49 | +25.6% |
| 3 Bedrooms | 53 | 65 | +22.6% |
| 4 Bedrooms | 49 | 75 | +53.1% |
| 5+ Bedrooms | 8 | 15 | +87.5% |
Summary: The Shelby Charter Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25.6%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 53.1%, and 5+ bedroom homes increased by 87.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 50 | +38.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelby Charter Township, you may be able to get a good deal. 42% of homes here sold below asking price last month.
Summary: A total of 50 homes were sold or pending in Shelby Charter Township in April 2024, up by 38.9% month-over-month. Of the 50 sold homes, 42% were sold under asking, 16% were sold at asking, and 42% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 82 Days | 23 Days | -71.1% |
Summary: Homes in Shelby Charter Township had an average of 23 days on market in Apr 2024, down by 71.1% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelby Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 50 homes were sold in Shelby Charter Township; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
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