Is Westland, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westland is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, Westland has remained a Seller's Market.

Key Takeaway

Westland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Westland, MI cost?

Median Sold Price

$175,000

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$20,000(+12.9%)

Key Takeaway

Homes in Westland have sold for 12.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $54K$78K
+44.4%
2 $96.5K$120K
+24.4%
3 $162.8K$180.2K
+10.7%
4 $224K$261K
+16.5%
5+ $255K$248.5K
-2.5%

Median Sold Price Compared To Nearby Cities

Inkster
+33.8%
Westland
+12.9%
Garden City
+12.9%
Wayne
+12.0%
Dearborn Heights
+7.2%

How many homes are available in Westland, MI?

Number of Homes For Sale

Apr 2022May 2022%
231226-2.2%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 55
0.0%
2 3733
-10.8%
3 150153
+2.0%
4 3228
-12.5%
5+ 77
0.0%

Number of Homes Sold

Apr 2022May 2022%
8982-7.9%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

56 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westland, you could pay more than the asking price. 68.3% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
19 Days16 Days-15.1%

Breakdown of Home Sale Times

71 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westland 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 Westland, MI

Number of homes for sale in Westland, MI real estate market have reached 226. The number of homes for sale in Westland, MI decreased by 2.2% between April 2022 and May 2022. In May 2022 median list price was $175,000 and the average listing age was 16 days. Between April 2022 and May 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 44.4%, 2 bedrooms properties prices increased by 24.4%, prices of 3 bedrooms properties went up by 10.7%, 4 bedrooms properties became 16.5% more expensive, the cost of 5 bedrooms properties went down by 2.5%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory decreased by 10.8%, volume of 3 bedrooms homes went up by 2%, number of 4 bedrooms homes decreased by 12.5%, 5 bedrooms homes did not move. Westland, MI housing market in May 2022 saw over 56 listings sold above listed price, more than 9 sold at listed price and over 17 sold below.

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