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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wayland is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Wayland, MI

How much do homes in Wayland, MI cost?

Median Sold Price

$315,000

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$60,000(+23.5%)

Key Takeaway

Homes in Wayland have sold for 23.5% more than they did a year ago.

Summary: The median home sold price in Wayland was $315,000 in February 2024, up 23.5% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$225K
N/A
2 $216K$260K
+20.4%
3 $236K$306K
+29.7%
4 $300K$324.9K
+8.3%
5+ $325K$394.2K
+21.3%

Summary: Wayland 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 20.4%, 3 bedroom homes increased by 29.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 21.3%.

Median Sold Price Compared To Nearby Cities

Wayland
+23.5%
Wayland Township
+10.7%
Leighton Township
+10.5%

Housing Supply in Wayland, MI

How many homes are available in Wayland, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2734+25.9%

Summary: The Wayland real estate market had 34 homes for sale in February 2024, a 25.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 78
+14.3%
3 1116
+45.5%
4 78
+14.3%
5+ 22
0.0%

Summary: The Wayland 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 increased by 14.3%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
48+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 8 homes were sold or pending in Wayland in February 2024, up by 100.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Wayland, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
30 Days51 Days+70.2%

Summary: Homes in Wayland had an average of 51 days on market in Feb 2024, up by 70.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 8 homes were sold in Wayland; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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 28 Days Ago

Newest Listings in Wayland, MI

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