Is Wayne County, 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, 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
$180,037
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Wayne County has remained the same since last year.
Summary: The median home sold price in Wayne County was $180,037 in March 2024, up 0.1% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $110.2K | +22.5% |
| 2 Bedrooms | $137.2K | $140.8K | +2.7% |
| 3 Bedrooms | $170K | $169.9K | -0.1% |
| 4 Bedrooms | $313.8K | $313K | -0.2% |
| 5+ Bedrooms | $330K | $325.4K | -1.4% |
Summary: Wayne County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.5%, 2 bedroom homes increased by 2.7%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes decreased by 1.4%.
Median Sold Price Compared To Nearby Counties
| Macomb County | $226.9K | $237.7K | +4.7% |
| Monroe County | $229.4K | $239K | +4.2% |
| Oakland County | $322.3K | $332.9K | +3.3% |
| Wayne County | $179.9K | $180K | 0.1% |
Housing Supply in Wayne County, MI
How many homes are available in Wayne County, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5,113 | 5,538 | +8.3% |
Summary: The Wayne County real estate market had 5,538 homes for sale in March 2024, a 8.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 101 | 106 | +5.0% |
| 2 Bedrooms | 864 | 928 | +7.4% |
| 3 Bedrooms | 3,053 | 3,294 | +7.9% |
| 4 Bedrooms | 859 | 948 | +10.4% |
| 5+ Bedrooms | 236 | 262 | +11.0% |
Summary: The Wayne County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 11%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,160 | 1,139 | -1.8% |
Asking Price vs. Sold Price
487 Homes Were Sold
Under Asking
208 Homes Were Sold
At Asking
444 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayne County, you may be able to get a good deal. 42.8% of homes here sold below asking price last month.
Summary: A total of 1,139 homes were sold or pending in Wayne County in March 2024, down by 1.8% month-over-month. Of the 1,139 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 93 Days | 31 Days | -65.8% |
Summary: Homes in Wayne County had an average of 31 days on market in Mar 2024, down by 65.8% compared to last year.
Breakdown of Home Sale Times
775 Homes Were Sold
Under 30 Days
252 Homes Were Sold
In 30 - 90 Days
112 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wayne County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1139 homes were sold in Wayne County; 68% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.