Is Warren, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Warren has remained a Seller's Market.
Key Takeaway
Warren is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Warren, MI
How much do homes in Warren, MI cost?
Median Sold Price
$182,944
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Warren have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Warren was $182,944 in June 2024, up 6.7% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $68.9K | $85K | +23.4% |
| 2 Bedrooms | $108K | $118K | +9.3% |
| 3 Bedrooms | $185.2K | $214.6K | +15.9% |
| 4 Bedrooms | $240K | $230.5K | -4.0% |
| 5+ Bedrooms | $233K | $260.5K | +11.8% |
Summary: Warren housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.4%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Center Line | $147.5K | $175K | +18.6% |
| Eastpointe | $141.6K | $154.9K | +9.4% |
| Roseville | $150.4K | $164.5K | +9.4% |
| Warren | $171.4K | $182.9K | +6.7% |
| Fraser | $219K | $227.2K | +3.8% |
Housing Supply in Warren, MI
How many homes are available in Warren, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 378 | 376 | -0.5% |
Summary: The Warren real estate market had 376 homes for sale in June 2024, a 0.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 86 | 87 | +1.2% |
| 3 Bedrooms | 234 | 230 | -1.7% |
| 4 Bedrooms | 41 | 40 | -2.4% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Warren housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 134 | 110 | -17.9% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Warren, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 110 homes were sold or pending in Warren in June 2024, down by 17.9% month-over-month. Of the 110 sold homes, 29% were sold under asking, 16% were sold at asking, and 55% were sold over asking.
Days on Market for Warren, MI
How long does it take to sell a home in Warren, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 16 Days | 18 Days | +9.7% |
Summary: Homes in Warren had an average of 18 days on market in Jun 2024, up by 9.7% compared to last year.
Breakdown of Home Sale Times
95 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Warren are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 110 homes were sold in Warren; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% 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.