Is Taylor, 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, Taylor has remained a Seller's Market.
Key Takeaway
Taylor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Taylor, MI
How much do homes in Taylor, MI cost?
Median Sold Price
$165,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Taylor have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Taylor was $165,000 in March 2024, up 10.2% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $53K | -55.1% |
| 2 Bedrooms | $109.9K | $120.5K | +9.6% |
| 3 Bedrooms | $153.8K | $168K | +9.2% |
| 4 Bedrooms | $230K | $275K | +19.6% |
| 5+ Bedrooms | $317.9K | $325.9K | +2.5% |
Summary: Taylor housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.1%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Allen Park | $183K | $210K | +14.8% |
| Taylor | $149.7K | $165K | +10.2% |
| Dearborn Heights | $170K | $185.8K | +9.3% |
| Brownstown Charter Township | $278.7K | $287.5K | +3.1% |
| Southgate | $175K | $180K | +2.9% |
Housing Supply in Taylor, MI
How many homes are available in Taylor, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 143 | 151 | +5.6% |
Summary: The Taylor real estate market had 151 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 26 | 27 | +3.8% |
| 3 Bedrooms | 79 | 83 | +5.1% |
| 4 Bedrooms | 26 | 29 | +11.5% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Taylor housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 42 | +10.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Taylor, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.
Summary: A total of 42 homes were sold or pending in Taylor in March 2024, up by 10.5% month-over-month. Of the 42 sold homes, 29% were sold under asking, 26% were sold at asking, and 45% were sold over asking.
Days on Market for Taylor, MI
How long does it take to sell a home in Taylor, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 18 Days | -78.0% |
Summary: Homes in Taylor had an average of 18 days on market in Mar 2024, down by 78% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Taylor are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 42 homes were sold in Taylor; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
