Is Washtenaw County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washtenaw County is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Washtenaw County, MI cost?

Median Sold Price

$355,151

$211/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$40,832(+13.0%)

Key Takeaway

Homes in Washtenaw County have sold for 13% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $172.5K$180K
+4.3%
2 $218.4K$240K
+9.9%
3 $287.7K$329.9K
+14.7%
4 $420.8K$465.8K
+10.7%
5+ $611K$680K
+11.3%

Median Sold Price Compared To Nearby Counties

Monroe County
+14.9%
Washtenaw County
+13.0%
Livingston County
+8.3%
Oakland County
+7.9%
Wayne County
+6.0%

How many homes are available in Washtenaw County, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
9831,027+4.5%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 1915
-21.1%
2 157171
+8.9%
3 420436
+3.8%
4 304325
+6.9%
5+ 8380
-3.6%

Number of Homes Sold

Jul 2022Aug 2022%
271278+2.6%

Asking Price vs. Sold Price

100 Homes Were Sold
Under Asking

52 Homes Were Sold
At Asking

126 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washtenaw County, you could pay more than the asking price. 45.3% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
36 Days34 Days-5.8%

Breakdown of Home Sale Times

136 Homes Were Sold
Under 30 Days

129 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Washtenaw County, MI

Number of homes for sale in Washtenaw County, MI real estate market have reached 1,027. The number of homes for sale in Washtenaw County, MI increased by 4.5% between July 2022 and August 2022. Listings spent 34 days on the market in August 2022, and had a median list price of $355,151 during the same period. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 4.3% more expensive, prices of 2 bedrooms properties went up by 9.9%, 3 bedrooms properties became 14.7% more expensive, prices of 4 bedrooms properties went up by 10.7%, prices of 5 bedrooms properties went up by 11.3%. Housing inventory have changed in this real estate market: number of 1 bedroom homes decreased by 21.1%, number of 2 bedrooms homes increased by 8.9%, volume of 3 bedrooms homes went up by 3.8%, number of 4 bedrooms homes increased by 6.9%, number of 5 bedrooms homes decreased by 3.6%. Over 126 listings were sold over their listed price in August 2022 in Washtenaw County, MI. In the same period over 100 listings were sold below the listed price and 52 listings were sold for the listed price.

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