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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wayne County is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Wayne County, MI

How much do homes in Wayne County, MI cost?

Median Sold Price

$189,938

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$11,594(+6.5%)

Key Takeaway

Homes in Wayne County have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Wayne County was $189,938 in September 2024, up 6.5% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $100.5K$118.7K
+18.1%
2 $139.3K$148.2K
+6.4%
3 $169.9K$180K
+5.9%
4 $315.1K$318.3K
+1.0%
5+ $335K$333.5K
-0.4%

Summary: Wayne County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 0.4%.

Median Sold Price Compared To Nearby Counties

Macomb County
+8.3%
Wayne County
+6.5%
Oakland County
+4.6%
Monroe County
+4.4%

Housing Supply in Wayne County, MI

How many homes are available in Wayne County, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6,6656,819+2.3%

Summary: The Wayne County real estate market had 6,819 homes for sale in September 2024, a 2.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 123139
+13.0%
2 1,0321,090
+5.6%
3 3,9724,024
+1.3%
4 1,1961,217
+1.8%
5+ 342349
+2.0%

Summary: The Wayne County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 2%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1,6921,358-19.7%

Asking Price vs. Sold Price

587 Homes Were Sold
Under Asking

243 Homes Were Sold
At Asking

528 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wayne County, you may be able to get a good deal. 43.2% of homes here sold below asking price last month.

Summary: A total of 1,358 homes were sold or pending in Wayne County in September 2024, down by 19.7% month-over-month. Of the 1,358 sold homes, 43% were sold under asking, 18% were sold at asking, and 39% were sold over asking.

Days on Market for Wayne County, MI

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

Average Sale Time

Sep 2023Sep 2024CHANGE
25 Days27 Days+6.1%

Summary: Homes in Wayne County had an average of 27 days on market in Sep 2024, up by 6.1% compared to last year.

Breakdown of Home Sale Times

994 Homes Were Sold
Under 30 Days

276 Homes Were Sold
In 30 - 90 Days

88 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 1358 homes were sold in Wayne County; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 6% 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 14 Days Ago

Newest Listings in Wayne County, MI

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