Is Wayland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$309,900
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Wayland have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Wayland was $309,900 in April 2024, up 7.3% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $216.5K | $259K | +19.6% |
| 3 Bedrooms | $280K | $300K | +7.1% |
| 4 Bedrooms | $305K | $349.9K | +14.7% |
| 5+ Bedrooms | $325K | $347.5K | +6.9% |
Summary: Wayland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Leighton Township | $315K | $365K | +15.9% |
| Wayland | $288.9K | $309.9K | +7.3% |
| Wayland Township | $290K | $305K | +5.2% |
Housing Supply in Wayland, MI
How many homes are available in Wayland, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 41 | +17.1% |
Summary: The Wayland real estate market had 41 homes for sale in April 2024, a 17.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Wayland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 17 | +112.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayland, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Wayland in April 2024, up by 112.5% month-over-month. Of the 17 sold homes, 41% were sold under asking, 18% were sold at asking, and 41% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 65 Days | 48 Days | -25.5% |
Summary: Homes in Wayland had an average of 48 days on market in Apr 2024, down by 25.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wayland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in Wayland; 47% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
