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 Buyer's Market.
Key Takeaway
Sheridan Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Sheridan Township, MI
How much do homes in Sheridan Township, MI cost?
Median Sold Price
$220,000
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sheridan Township have sold for 30.2% more than they did a year ago.
Summary: The median home sold price in Sheridan Township was $220,000 in March 2024, up 30.2% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $110K | $176K | +59.9% |
| 3 Bedrooms | $180K | $217.9K | +21.1% |
| 4 Bedrooms | $197.5K | $250K | +26.6% |
| 5+ Bedrooms | - | $311K | N/A |
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 59.9%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 26.6%, and 5+ bedroom homes did not change.
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 |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The Sheridan Township real estate market had 12 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 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 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheridan Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Sheridan Township in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% 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
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sheridan Township has remained consistent over time.
Summary: During March 2024, 2 homes were sold in Sheridan Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
