Is West Bloomfield, 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, West Bloomfield has remained a Seller's Market.
Key Takeaway
West Bloomfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Bloomfield, MI
How much do homes in West Bloomfield, MI cost?
Median Sold Price
$400,250
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in West Bloomfield has remained the same since last year.
Summary: The median home sold price in West Bloomfield was $400,250 in March 2024, up 0.1% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93K | $87.2K | -6.2% |
| 2 Bedrooms | $260K | $250K | -3.8% |
| 3 Bedrooms | $340K | $349.7K | +2.9% |
| 4 Bedrooms | $465K | $478K | +2.8% |
| 5+ Bedrooms | $651.4K | $675K | +3.6% |
Summary: West Bloomfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.2%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| West Bloomfield Charter Township | $389.8K | $399.4K | +2.5% |
| West Bloomfield | $400K | $400.2K | 0.1% |
| Sylvan Lake | $327.5K | $305K | -6.9% |
| Keego Harbor | $235K | $200K | -14.9% |
Housing Supply in West Bloomfield, MI
How many homes are available in West Bloomfield, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 160 | 183 | +14.4% |
Summary: The West Bloomfield real estate market had 183 homes for sale in March 2024, a 14.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 38 | 42 | +10.5% |
| 3 Bedrooms | 42 | 52 | +23.8% |
| 4 Bedrooms | 66 | 71 | +7.6% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The West Bloomfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 57 | +46.2% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Bloomfield, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 57 homes were sold or pending in West Bloomfield in March 2024, up by 46.2% month-over-month. Of the 57 sold homes, 68% were sold under asking, 9% were sold at asking, and 23% were sold over asking.
Days on Market for West Bloomfield, MI
How long does it take to sell a home in West Bloomfield, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 131 Days | 32 Days | -74.9% |
Summary: Homes in West Bloomfield had an average of 32 days on market in Mar 2024, down by 74.9% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Bloomfield are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 57 homes were sold in West Bloomfield; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.