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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wayne is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Wayne, MI cost?

Median Sold Price

$142,750

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$6,750(+5.0%)

Key Takeaway

Homes in Wayne have sold for 5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 --
N/A
2 $112K$100K
-10.7%
3 $135K$145K
+7.4%
4 $164.9K$182.5K
+10.6%
5+ $172.1K$195K
+13.3%

Median Sold Price Compared To Nearby Cities

Romulus
+12.9%
Canton Charter Township
+9.8%
Canton
+9.7%
Westland
+6.7%
Wayne
+5.0%

How many homes are available in Wayne, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
4155+34.1%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 99
0.0%
3 2641
+57.7%
4 54
-20.0%
5+ 11
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
812+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Average Sale Time

Aug 2021Aug 2022%
15 Days15 Days-1.7%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Wayne, MI

Number of homes for sale in Wayne, MI real estate market have reached 55. The number of listings in Wayne, MI increased by 34.1% between July 2022 and August 2022. The median list price of listings available in August 2022 was $142,750, while the average time on the real estate market was 15 days. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties went down by 10.7%, 3 bedrooms properties prices increased by 7.4%, 4 bedrooms properties became 10.6% more expensive, prices of 5 bedrooms properties increased by 13.3%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes have not changed, number of 2 bedrooms homes remained the same, 3 bedrooms homes inventory increased by 57.7%, 4 bedrooms homes became 20% less available, 5 bedrooms homes did not move. Over 6 listings were sold over their listed price in August 2022 in Wayne, MI. In the same period over 4 listings were sold below the listed price and 2 listings were sold for the listed price.

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