Is Wayne Township, 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 Township has remained a Seller's Market.
Housing Prices in Wayne Township, MI
How much do homes in Wayne Township, MI cost?
Median Sold Price
$165,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Wayne Township was $165,000 in March 2024, up 6.3% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $132.9K | $130K | -2.2% |
3 Bedrooms | $150K | $165K | +10.0% |
4 Bedrooms | $227K | $237K | +4.4% |
5+ Bedrooms | $225K | $265K | +17.8% |
Summary: Wayne Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 17.8%.
Median Sold Price Compared To Nearby Cities
Dowagiac | $136K | $183K | +34.6% |
Decatur Township | $150K | $179.9K | +19.9% |
Wayne Township | $155.2K | $165K | +6.3% |
Hamilton Township | $348K | $350K | +0.6% |
Housing Supply in Wayne Township, MI
How many homes are available in Wayne Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 44 | -6.4% |
Summary: The Wayne Township real estate market had 44 homes for sale in March 2024, a 6.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 6 | -33.3% |
3 Bedrooms | 28 | 28 | 0.0% |
4 Bedrooms | 9 | 10 | +11.1% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Wayne Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 12 | -7.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Wayne Township in March 2024, down by 7.7% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Wayne Township, MI
How long does it take to sell a home in Wayne Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
109 Days | 45 Days | -58.3% |
Summary: Homes in Wayne Township had an average of 45 days on market in Mar 2024, down by 58.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Wayne Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.