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 January 2022

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

$332,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

-$5,038(-1.5%)

Key Takeaway

Homes in Shelby Charter Township have sold for 1.5% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $85K$133.7K
+57.4%
2 $210K$233.5K
+11.2%
3 $295K$320.9K
+8.8%
4 $450K$517.7K
+15.0%
5+ $487.5K$651.5K
+33.6%

Median Sold Price Compared To Nearby Cities

Macomb Township
+5.9%
Sterling Heights
+5.8%
Macomb
+5.6%
Utica
+4.4%
Shelby Charter Township
-1.5%

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

Number of Homes For Sale

Dec 2022Jan 2023%
170163-4.1%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 00
0.0%
2 4342
-2.3%
3 5455
+1.9%
4 6560
-7.7%
5+ 86
-25.0%

Number of Homes Sold

Dec 2022Jan 2023%
5637-33.9%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 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. 59.5% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
16 Days28 Days+74.3%

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 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.

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

About Shelby Charter Township, MI

Homes for sale in Shelby Charter Township, MI have reached 163. Between December 2022 and January 2023, Shelby Charter Township, MI real estate market has seen decrease in the number of listings by 4.1%. In January 2023, listings were on the market for 28 days. During the same period, the median list price in this real estate market was $332,000. This housing market listing prices have changed between December 2022 and January 2023: the cost of 1 bedroom properties went up by 57.4%, prices of 2 bedrooms properties went up by 11.2%, prices of 3 bedrooms properties went up by 8.8%, prices of 4 bedrooms properties went up by 15%, 5 bedrooms properties prices increased by 33.6%. Housing inventory have changed in this real estate market: 1 bedroom homes did not move, number of 2 bedrooms homes decreased by 2.3%, 3 bedrooms homes inventory increased by 1.9%, the quantity of 4 bedrooms homes went down by 7.7%, number of 5 bedrooms homes decreased by 25%. Shelby Charter Township, MI housing market in January 2023 saw over 9 listings sold above listed price, more than 6 sold at listed price and over 22 sold below.

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