Is West Bloomfield Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, West Bloomfield Charter Township has remained a Seller's Market.
Key Takeaway
West Bloomfield Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in West Bloomfield Charter Township, MI cost?
Median Sold Price
$389,850
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in West Bloomfield Charter Township have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in West Bloomfield Charter Township was $389,850 in August 2023, up 2.3% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.9K | $90.1K | 0.2% |
| 2 Bedrooms | $251K | $257.5K | +2.6% |
| 3 Bedrooms | $334K | $335.4K | 0.4% |
| 4 Bedrooms | $443K | $475K | +7.2% |
| 5+ Bedrooms | $650K | $625K | -3.8% |
Summary: West Bloomfield Charter Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
| Sylvan Lake | $295K | $383.2K | +29.9% |
| Keego Harbor | $199.8K | $239.5K | +19.8% |
| Orchard Lake Village | $840K | $950K | +13.1% |
| West Bloomfield | $387.4K | $400K | +3.2% |
| West Bloomfield Charter Township | $381K | $389.8K | +2.3% |
Housing Supply
How many homes are available in West Bloomfield Charter Township, MI?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 243 | 270 | +11.1% |
Summary: The West Bloomfield Charter Township real estate market had 270 homes for sale in August 2023, a 11.1% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 46 | 50 | +8.7% |
| 3 Bedrooms | 85 | 90 | +5.9% |
| 4 Bedrooms | 94 | 105 | +11.7% |
| 5+ Bedrooms | 17 | 24 | +41.2% |
Summary: The West Bloomfield Charter Township housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 41.2%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 65 | 67 | +3.1% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Bloomfield Charter Township, you may be able to get a good deal. 50.7% of homes here sold below asking price last month.
Summary: A total of 67 homes were sold or pending in West Bloomfield Charter Township in August 2023, up by 3.1% month-over-month. Of the 67 sold homes, 51% were sold under asking, 15% were sold at asking, and 34% were sold over asking.
Days on Market
How long does it take to sell a home in West Bloomfield Charter Township, MI?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 6 Days | 26 Days | +342.3% |
Summary: Homes in West Bloomfield Charter Township had an average of 26 days on market in Aug 2023, up by 342.3% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Bloomfield Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 67 homes were sold in West Bloomfield Charter Township; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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.