Is West Bloomfield, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Bloomfield is a seller's market

Buyer's
Market

Difference Since August 2021

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.

How much do homes in West Bloomfield, MI cost?

Median Sold Price

$379,980

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$38,392(+11.2%)

Key Takeaway

Homes in West Bloomfield have sold for 11.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $136.2K$90K
-33.9%
2 $215K$250K
+16.3%
3 $285K$329.2K
+15.5%
4 $425K$445K
+4.7%
5+ $595K$651.4K
+9.5%

Median Sold Price Compared To Nearby Cities

Orchard Lake Village
+23.8%
Keego Harbor
+23.5%
West Bloomfield Charter Township
+11.6%
West Bloomfield
+11.2%

How many homes are available in West Bloomfield, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
261304+16.5%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 23
+50.0%
2 2530
+20.0%
3 7887
+11.5%
4 124146
+17.7%
5+ 3238
+18.8%

Number of Homes Sold

Jul 2022Aug 2022%
4268+61.9%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Bloomfield, you may be able to get a good deal. 54.4% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
21 Days16 Days-22.5%

Breakdown of Home Sale Times

56 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West Bloomfield 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 West Bloomfield, MI

West Bloomfield, MI has 304 homes on the market. The inventory of homes for sale in West Bloomfield, MI between July 2022 and August 2022 increased by 16.5%. While the average time on the market in August 2022 was 16 days, the median list price was $379,980. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went down by 33.9%, prices of 2 bedrooms properties went up by 16.3%, prices of 3 bedrooms properties went up by 15.5%, prices of 4 bedrooms properties went up by 4.7%, 5 bedrooms properties prices increased by 9.5%. Volume of homes for sale changed: number of 1 bedroom homes increased by 50%, 2 bedrooms homes became 20% more available, the quantity of 3 bedrooms homes went up by 11.5%, the quantity of 4 bedrooms homes went up by 17.7%, number of 5 bedrooms homes increased by 18.8%. In August 2022 more than 18 listings in West Bloomfield, MI were sold above the asking price. During the same period more than 13 listings were sold at asking price, while more than 37 were sold below.

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