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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Washington Township, MI

How much do homes in Washington Township, MI cost?

Median Sold Price

$430,562

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$1,033(+0.2%)

Key Takeaway

The sold price of homes in Washington Township has remained the same since last year.

Summary: The median home sold price in Washington Township was $430,562 in November 2024, up 0.2% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $310K$309.5K
-0.2%
3 $401K$425K
+6.0%
4 $532.4K$616.2K
+15.7%
5+ $817.5K$840K
+2.8%

Summary: Washington Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 2.8%.

Median Sold Price Compared To Nearby Cities

Romeo
+27.4%
Shelby Charter Township
+5.5%
Washington
0.5%
Washington Township
0.2%
Oakland
-10.6%

Housing Supply in Washington Township, MI

How many homes are available in Washington Township, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10592-12.4%

Summary: The Washington Township real estate market had 92 homes for sale in November 2024, a 12.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2213
-40.9%
3 4240
-4.8%
4 3533
-5.7%
5+ 66
0.0%

Summary: The Washington Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40.9%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3020-33.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 20 homes were sold or pending in Washington Township in November 2024, down by 33.3% month-over-month. Of the 20 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.

Days on Market for Washington Township, MI

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

Average Sale Time

Nov 2023Nov 2024CHANGE
50 Days25 Days-49.4%

Summary: Homes in Washington Township had an average of 25 days on market in Nov 2024, down by 49.4% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 20 homes were sold in Washington Township; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% 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 8 Days Ago

Newest Listings in Washington Township, MI

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