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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Bloomfield Charter Township is a seller's market

Buyer's
Market

Difference Since June 2023

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 in West Bloomfield Charter Township, MI

How much do homes in West Bloomfield Charter Township, MI cost?

Median Sold Price

$410,033

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$16,553(+4.2%)

Key Takeaway

Homes in West Bloomfield Charter Township have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in West Bloomfield Charter Township was $410,033 in June 2024, up 4.2% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $87.5K$91.1K
+4.1%
2 $258.7K$255K
-1.4%
3 $342.6K$356.1K
+4.0%
4 $470K$480K
+2.1%
5+ $630.5K$726K
+15.1%

Summary: West Bloomfield Charter Township 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 1.4%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 15.1%.

Median Sold Price Compared To Nearby Cities

Orchard Lake Village
+36.8%
West Bloomfield Charter Township
+4.2%
West Bloomfield
+2.7%
Keego Harbor
-21.5%

Housing Supply in West Bloomfield Charter Township, MI

How many homes are available in West Bloomfield Charter Township, MI?

Number of Homes For Sale

May 2024Jun 2024CHANGE
204231+13.2%

Summary: The West Bloomfield Charter Township real estate market had 231 homes for sale in June 2024, a 13.2% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 35
+66.7%
2 3334
+3.0%
3 5876
+31.0%
4 8585
0.0%
5+ 2531
+24.0%

Summary: The West Bloomfield Charter Township 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%, 3 bedroom homes increased by 31%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 24%.

Number of Homes Sold

May 2024Jun 2024CHANGE
6648-27.3%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Bloomfield Charter Township, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.

Summary: A total of 48 homes were sold or pending in West Bloomfield Charter Township in June 2024, down by 27.3% month-over-month. Of the 48 sold homes, 31% were sold under asking, 13% were sold at asking, and 56% were sold over asking.

Days on Market for West Bloomfield Charter Township, MI

How long does it take to sell a home in West Bloomfield Charter Township, MI?

Average Sale Time

Jun 2023Jun 2024CHANGE
22 Days20 Days-8.0%

Summary: Homes in West Bloomfield Charter Township had an average of 20 days on market in Jun 2024, down by 8% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West Bloomfield Charter Township are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 48 homes were sold in West Bloomfield Charter Township; 73% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in West Bloomfield Charter Township, MI

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