Is West Bloomfield, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$411,309
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in West Bloomfield have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in West Bloomfield was $411,309 in June 2024, up 2.7% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.5K | $91.1K | +4.1% |
| 2 Bedrooms | $259K | $254K | -1.9% |
| 3 Bedrooms | $342.3K | $355K | +3.7% |
| 4 Bedrooms | $470.4K | $483.5K | +2.8% |
| 5+ Bedrooms | $650.5K | $744.5K | +14.5% |
Summary: West Bloomfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 14.5%.
Median Sold Price Compared To Nearby Cities
| Orchard Lake Village | $950K | $1.3M | +36.8% |
| West Bloomfield Charter Township | $393.4K | $410K | +4.2% |
| West Bloomfield | $400.5K | $411.3K | +2.7% |
| Keego Harbor | $239.5K | $188K | -21.5% |
Housing Supply in West Bloomfield, MI
How many homes are available in West Bloomfield, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 203 | 231 | +13.8% |
Summary: The West Bloomfield real estate market had 231 homes for sale in June 2024, a 13.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 32 | 33 | +3.1% |
| 3 Bedrooms | 55 | 75 | +36.4% |
| 4 Bedrooms | 89 | 87 | -2.2% |
| 5+ Bedrooms | 24 | 31 | +29.2% |
Summary: The West Bloomfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 36.4%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 29.2%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 67 | 47 | -29.9% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Bloomfield, you could pay more than the asking price. 55.3% of homes here sold above asking price last month.
Summary: A total of 47 homes were sold or pending in West Bloomfield in June 2024, down by 29.9% month-over-month. Of the 47 sold homes, 32% were sold under asking, 13% were sold at asking, and 55% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 22 Days | 20 Days | -5.8% |
Summary: Homes in West Bloomfield had an average of 20 days on market in Jun 2024, down by 5.8% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Bloomfield are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 47 homes were sold in West Bloomfield; 72% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.