Is Wales Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wales Township is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Wales Township was a Neutral Market.

Key Takeaway

Wales Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Wales Township, MI

How much do homes in Wales Township, MI cost?

Median Sold Price

$463,500

$202/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$262,000(+130.0%)

Key Takeaway

Homes in Wales Township have sold for 130% more than they did a month ago.

Summary: The median home sold price in Wales Township was $463,500 in October 2024, up 130% from last month, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$318.5K
N/A
3 $201.5K-
N/A
4 -$550K
N/A
5+ -$800K
N/A

Summary: Wales Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Wales Township
+130.0%
Goodells
+130.0%
Memphis
-26.5%

Housing Supply in Wales Township, MI

How many homes are available in Wales Township, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
79+28.6%

Summary: The Wales Township real estate market had 9 homes for sale in October 2024, a 28.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 35
+66.7%
4 21
-50.0%
5+ 11
0.0%

Summary: The Wales Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wales Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Wales Township in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Wales Township, MI

How long does it take to sell a home in Wales Township, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
87 Days20 Days-77.0%

Summary: Homes in Wales Township had an average of 20 days on market in Oct 2024, down by 77% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Wales Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in Wales Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Wales Township, MI

Nearby Markets to Wales Township, MI

What housing markets are near Wales Township, MI?