Is Troy Township, 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, Troy Township has remained a Seller's Market.
Housing Prices in Troy Township, MI
How much do homes in Troy Township, MI cost?
Median Sold Price
$408,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Troy Township was $408,000 in March 2024, up 6% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117K | $129.5K | +10.7% |
2 Bedrooms | $255K | $262.4K | +2.9% |
3 Bedrooms | $337K | $348.6K | +3.5% |
4 Bedrooms | $489.5K | $535K | +9.3% |
5+ Bedrooms | $640K | $655K | +2.3% |
Summary: Troy Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
Pleasant Plains Township | $90K | $125K | +38.9% |
Lilley Township | $122.5K | $131K | +6.9% |
Troy Township | $384.8K | $408K | +6.0% |
Bitely | $130K | $129.2K | -0.6% |
Lake Township | $152.6K | $134.9K | -11.6% |
Housing Supply in Troy Township, MI
How many homes are available in Troy Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
126 | 139 | +10.3% |
Summary: The Troy Township real estate market had 139 homes for sale in March 2024, a 10.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 29 | 20 | -31.0% |
3 Bedrooms | 41 | 48 | +17.1% |
4 Bedrooms | 45 | 62 | +37.8% |
5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Troy 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 31%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 37.8%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 40 | -14.9% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Troy Township in March 2024, down by 14.9% month-over-month. Of the 40 sold homes, 45% were sold under asking, 8% were sold at asking, and 48% were sold over asking.
Days on Market for Troy Township, MI
How long does it take to sell a home in Troy Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 21 Days | -52.7% |
Summary: Homes in Troy Township had an average of 21 days on market in Mar 2024, down by 52.7% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 40 homes were sold in Troy Township; 80% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.