Is Shelby Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Shelby Township was a Buyer's Market.
Housing Prices in Shelby Township, MI
How much do homes in Shelby Township, MI cost?
Median Sold Price
$219,900
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Shelby Township was $219,900 in March 2024, up 15.7% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69.5K | $102.5K | +47.5% |
2 Bedrooms | $132.5K | $181K | +36.6% |
3 Bedrooms | $185K | $255K | +37.8% |
4 Bedrooms | $349.9K | $202.5K | -42.1% |
5+ Bedrooms | $252.6K | $172.5K | -31.7% |
Summary: Shelby Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.5%, 2 bedroom homes increased by 36.6%, 3 bedroom homes increased by 37.8%, 4 bedroom homes decreased by 42.1%, and 5+ bedroom homes decreased by 31.7%.
Median Sold Price Compared To Nearby Cities
Grant Township | $180K | $227K | +26.1% |
Shelby Township | $190K | $219.9K | +15.7% |
Shelby | $185K | $210K | +13.5% |
Housing Supply in Shelby Township, MI
How many homes are available in Shelby Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 16 | -15.8% |
Summary: The Shelby Township real estate market had 16 homes for sale in March 2024, a 15.8% decrease 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 | 4 | 3 | -25.0% |
3 Bedrooms | 5 | 5 | 0.0% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Shelby 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Shelby Township in March 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Shelby Township, MI
How long does it take to sell a home in Shelby Township, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Shelby Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.