Is Washington, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Washington has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Washington, MI

How much do homes in Washington, MI cost?

Median Sold Price

$429,529

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,579(+3.8%)

Key Takeaway

Homes in Washington have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Washington was $429,529 in February 2024, up 3.8% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $265K$310.7K
+17.3%
3 $403.9K$412.7K
+2.2%
4 $509.2K$580K
+13.9%
5+ $685K$800K
+16.8%

Summary: Washington housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 16.8%.

Median Sold Price Compared To Nearby Cities

Oakland
+18.3%
Romeo
+12.6%
Washington Township
+5.2%
Washington
+3.8%
Oakland Charter Township
-0.9%

Housing Supply in Washington, MI

How many homes are available in Washington, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7078+11.4%

Summary: The Washington real estate market had 78 homes for sale in February 2024, a 11.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 2019
-5.0%
3 2834
+21.4%
4 1921
+10.5%
5+ 34
+33.3%

Summary: The Washington housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1518+20.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Washington in February 2024, up by 20.0% month-over-month. Of the 18 sold homes, 56% were sold under asking, 28% were sold at asking, and 17% were sold over asking.

Days on Market for Washington, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
111 Days38 Days-64.9%

Summary: Homes in Washington had an average of 38 days on market in Feb 2024, down by 64.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 18 homes were sold in Washington; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% 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 3 Days Ago

Newest Listings in Washington, MI

Nearby Markets to Washington, MI

What housing markets are near Washington, MI?