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 2021

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.

How much do homes in Wayne County, MI cost?

Median Sold Price

$180,257

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$9,580(+5.6%)

Key Takeaway

Homes in Wayne County have sold for 5.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $82K$85.7K
+4.6%
2 $124.9K$135.5K
+8.5%
3 $160.2K$172.9K
+7.9%
4 $300K$317.4K
+5.8%
5+ $385.7K$360K
-6.7%

Median Sold Price Compared To Nearby Counties

Washtenaw County
+12.3%
Monroe County
+12.2%
Macomb County
+8.9%
Oakland County
+7.3%
Wayne County
+5.6%

How many homes are available in Wayne County, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
6,6026,998+6.0%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 9599
+4.2%
2 1,0341,097
+6.1%
3 3,9504,191
+6.1%
4 1,1781,249
+6.0%
5+ 345362
+4.9%

Number of Homes Sold

Aug 2022Sep 2022%
1,5461,474-4.7%

Asking Price vs. Sold Price

630 Homes Were Sold
Under Asking

253 Homes Were Sold
At Asking

591 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. 42.7% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
24 Days28 Days+16.0%

Breakdown of Home Sale Times

1,044 Homes Were Sold
Under 30 Days

352 Homes Were Sold
In 30 - 90 Days

75 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.

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

About Wayne County, MI

Wayne County, MI has 6,998 homes for sale to choose from. The inventory of homes for sale in Wayne County, MI between August 2022 and September 2022 increased by 6%. While the average time on the market in September 2022 was 28 days, the median list price was $180,257. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 4.6% more expensive, 2 bedrooms properties prices increased by 8.5%, prices of 3 bedrooms properties went up by 7.9%, prices of 4 bedrooms properties increased by 5.8%, prices of 5 bedrooms properties went down by 6.7%. This housing market inventory have changed: volume of 1 bedroom homes went up by 4.2%, number of 2 bedrooms homes increased by 6.1%, 3 bedrooms homes became 6.1% more available, volume of 4 bedrooms homes went up by 6%, 5 bedrooms homes became 4.9% more available. In September 2022 more than 591 listings in Wayne County, MI were sold above the asking price. During the same period more than 253 listings were sold at asking price, while more than 630 were sold below.

Related Housing Market Reports