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 March 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
$339,950
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Shelby Charter Township have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Shelby Charter Township was $339,950 in March 2024, up 1.5% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83K | $125K | +50.6% |
| 2 Bedrooms | $231.4K | $245K | +5.9% |
| 3 Bedrooms | $320K | $330K | +3.1% |
| 4 Bedrooms | $525K | $535K | +1.9% |
| 5+ Bedrooms | $602.4K | $655K | +8.7% |
Summary: Shelby Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.6%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Utica | $270K | $492.5K | +82.4% |
| Sterling Heights | $280K | $290.4K | +3.7% |
| Macomb | $411.7K | $425.2K | +3.3% |
| Macomb Township | $412K | $425.3K | +3.2% |
| Shelby Charter Township | $335K | $339.9K | +1.5% |
Housing Supply in Shelby Charter Township, MI
How many homes are available in Shelby Charter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 141 | 164 | +16.3% |
Summary: The Shelby Charter Township real estate market had 164 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 39 | 48 | +23.1% |
| 3 Bedrooms | 44 | 56 | +27.3% |
| 4 Bedrooms | 44 | 50 | +13.6% |
| 5+ Bedrooms | 12 | 10 | -16.7% |
Summary: The Shelby Charter Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 39 | -4.9% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelby Charter Township, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 39 homes were sold or pending in Shelby Charter Township in March 2024, down by 4.9% month-over-month. Of the 39 sold homes, 41% were sold under asking, 13% were sold at asking, and 46% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 86 Days | 31 Days | -63.4% |
Summary: Homes in Shelby Charter Township had an average of 31 days on market in Mar 2024, down by 63.4% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 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 March 2024, 39 homes were sold in Shelby Charter Township; 72% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 10% 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. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.