Is Wayland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Wayland has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $225K | N/A |
2 Bedrooms | $216K | $260K | +20.4% |
3 Bedrooms | $236K | $306K | +29.7% |
4 Bedrooms | $300K | $324.9K | +8.3% |
5+ Bedrooms | $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 | $255K | $315K | +23.5% |
Wayland Township | $280K | $309.9K | +10.7% |
Leighton Township | $322K | $355.7K | +10.5% |
Housing Supply in Wayland, MI
How many homes are available in Wayland, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
27 | 34 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 11 | 16 | +45.5% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 2 | 2 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
4 | 8 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
30 Days | 51 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
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.