Is Southfield Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2021
Since last year, Southfield Township has remained a Seller's Market.
Key Takeaway
Southfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Southfield Township, MI cost?
Median Sold Price
$475,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2021
Key Takeaway
Homes in Southfield Township have sold for 17.3% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2021 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $304.5K | $326.5K | +7.2% |
| 3 Bedrooms | $355K | $380K | +7.0% |
| 4 Bedrooms | $452K | $596.8K | +32.1% |
| 5+ Bedrooms | $690K | $805K | +16.7% |
Median Sold Price Compared To Nearby Cities
| % | |
|---|---|
| Southfield Township | +17.3% |
| Beverly Hills | +11.4% |
| Birmingham | +7.3% |
| Bingham Farms | +4.5% |
How many homes are available in Southfield Township, MI?
Number of Homes For Sale
| Apr 2022 | May 2022 | % |
|---|---|---|
| 63 | 84 | +33.3% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2022 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 30 | 37 | +23.3% |
| 4 Bedrooms | 22 | 35 | +59.1% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Number of Homes Sold
| Apr 2022 | May 2022 | % |
|---|---|---|
| 21 | 24 | +14.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southfield Township, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Average Sale Time
| May 2021 | May 2022 | % |
|---|---|---|
| 9 Days | 14 Days | +50.0% |
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southfield Township are selling fast, if you're buying plan to act quickly.
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. 