Is Wales Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Wales Township has remained a Seller's Market.
Key Takeaway
Wales Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Wales Township, MI cost?
Median Sold Price
$305,500
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Wales Township have sold for 3% less than they did a year ago.
Summary: The median home sold price in Wales Township was $305,500 in August 2023, down 3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $194K | - | N/A |
| 3 Bedrooms | $307.5K | $285K | -7.3% |
| 4 Bedrooms | $339K | $350K | +3.2% |
| 5+ Bedrooms | $528K | $425K | -19.5% |
Summary: Wales Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 7.3%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 19.5%.
Median Sold Price Compared To Nearby Cities
| Kimball Township | $202K | $221.2K | +9.5% |
| Wales Township | $315K | $305.5K | -3.0% |
| Goodells | $315K | $305.5K | -3.0% |
| Memphis | $297.5K | $278.1K | -6.5% |
Housing Supply
How many homes are available in Wales Township, MI?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Summary: The Wales Township real estate market had 21 homes for sale in August 2023, a 4.5% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Wales Township housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wales Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Wales Township in August 2023, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market
How long does it take to sell a home in Wales Township, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wales Township are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 5 homes were sold in Wales Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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.