Is Sheridan 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, Sheridan Township was a Neutral Market.
Key Takeaway
Sheridan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sheridan Township, MI
How much do homes in Sheridan Township, MI cost?
Median Sold Price
$186,250
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sheridan Township have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Sheridan Township was $186,250 in March 2024, up 10.2% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $70K | N/A |
| 2 Bedrooms | $97K | $155.1K | +60.0% |
| 3 Bedrooms | $177.5K | $211.2K | +19.0% |
| 4 Bedrooms | $197.5K | $195K | -1.3% |
| 5+ Bedrooms | $228K | $311K | +36.4% |
Summary: Sheridan Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 19%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 36.4%.
Median Sold Price Compared To Nearby Cities
| Sheridan Township | $169K | $186.2K | +10.2% |
| Albion | $120K | $130K | +8.3% |
| Clarence Township | $211K | $224K | +6.2% |
| Parma Township | $242.5K | $220K | -9.3% |
Housing Supply in Sheridan Township, MI
How many homes are available in Sheridan Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The Sheridan Township real estate market had 17 homes for sale in March 2024, a 30.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sheridan Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheridan Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Sheridan Township in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Sheridan Township, MI
How long does it take to sell a home in Sheridan Township, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sheridan Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Sheridan Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.