Is Washtenaw County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Washtenaw County has remained a Seller's Market.
Housing Prices in Washtenaw County, MI
How much do homes in Washtenaw County, MI cost?
Median Sold Price
$389,452
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Washtenaw County was $389,452 in March 2024, up 5.4% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $207.5K | $227.5K | +9.6% |
2 Bedrooms | $255K | $270.8K | +6.2% |
3 Bedrooms | $340K | $361.4K | +6.3% |
4 Bedrooms | $499.3K | $500.3K | 0.2% |
5+ Bedrooms | $683K | $683.7K | 0.1% |
Summary: Washtenaw County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 0.1%.
Median Sold Price Compared To Nearby Counties
Livingston County | $344.8K | $364.7K | +5.8% |
Washtenaw County | $369.4K | $389.4K | +5.4% |
Monroe County | $229.4K | $239K | +4.2% |
Oakland County | $322.3K | $332.9K | +3.3% |
Wayne County | $179.9K | $180K | 0.1% |
Housing Supply in Washtenaw County, MI
How many homes are available in Washtenaw County, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
722 | 805 | +11.5% |
Summary: The Washtenaw County real estate market had 805 homes for sale in March 2024, a 11.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 17 | +41.7% |
2 Bedrooms | 126 | 149 | +18.3% |
3 Bedrooms | 292 | 326 | +11.6% |
4 Bedrooms | 238 | 254 | +6.7% |
5+ Bedrooms | 54 | 59 | +9.3% |
Summary: The Washtenaw County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 41.7%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 9.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
175 | 205 | +17.1% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
44 Homes Were Sold
At Asking
99 Homes Were Sold
Over Asking
Summary: A total of 205 homes were sold or pending in Washtenaw County in March 2024, up by 17.1% month-over-month. Of the 205 sold homes, 30% were sold under asking, 21% were sold at asking, and 48% were sold over asking.
Days on Market for Washtenaw County, MI
How long does it take to sell a home in Washtenaw County, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
57 Days | 48 Days | -15.0% |
Summary: Homes in Washtenaw County had an average of 48 days on market in Mar 2024, down by 15% compared to last year.
Breakdown of Home Sale Times
122 Homes Were Sold
Under 30 Days
58 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During March 2024, 205 homes were sold in Washtenaw County; 60% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.