Is Wayland Township, 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, Wayland Township has remained a Seller's Market.
Key Takeaway
Wayland Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wayland Township, MI
How much do homes in Wayland Township, MI cost?
Median Sold Price
$313,500
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wayland Township have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Wayland Township was $313,500 in March 2024, up 8.1% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $192.5K | N/A |
| 2 Bedrooms | $220.7K | $260K | +17.8% |
| 3 Bedrooms | $288K | $305.7K | +6.1% |
| 4 Bedrooms | $304.9K | $349.9K | +14.8% |
| 5+ Bedrooms | $295K | $374.6K | +27.0% |
Summary: Wayland Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 27%.
Median Sold Price Compared To Nearby Cities
| Wayland | $280K | $315K | +12.5% |
| Leighton Township | $327K | $355K | +8.6% |
| Wayland Township | $290K | $313.5K | +8.1% |
| Yankee Springs Township | $369.5K | $371K | 0.4% |
| Shelbyville | $301.6K | $291.2K | -3.4% |
Housing Supply in Wayland Township, MI
How many homes are available in Wayland Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 34 | -12.8% |
Summary: The Wayland Township real estate market had 34 homes for sale in March 2024, a 12.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Wayland Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wayland Township, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Wayland Township in March 2024, down by 10.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 44% were sold at asking, and 11% were sold over asking.
Days on Market for Wayland Township, MI
How long does it take to sell a home in Wayland Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 15 Days | -77.2% |
Summary: Homes in Wayland Township had an average of 15 days on market in Mar 2024, down by 77.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wayland Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Wayland Township; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
