Is Westland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Westland has remained a Seller's Market.
Housing Prices in Westland, MI
How much do homes in Westland, MI cost?
Median Sold Price
$200,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Westland was $200,000 in March 2024, up 5.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79K | $85K | +7.6% |
2 Bedrooms | $137K | $129.5K | -5.5% |
3 Bedrooms | $194.9K | $210K | +7.7% |
4 Bedrooms | $247.4K | $285K | +15.2% |
5+ Bedrooms | $260K | $292.5K | +12.5% |
Summary: Westland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
Inkster | $86K | $100.5K | +16.9% |
Wayne | $146.5K | $161K | +9.8% |
Dearborn Heights | $170K | $185.8K | +9.3% |
Garden City | $176.7K | $190K | +7.5% |
Westland | $190K | $200K | +5.3% |
Housing Supply in Westland, MI
How many homes are available in Westland, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
152 | 157 | +3.3% |
Summary: The Westland real estate market had 157 homes for sale in March 2024, a 3.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 26 | 27 | +3.8% |
3 Bedrooms | 107 | 107 | 0.0% |
4 Bedrooms | 15 | 19 | +26.7% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Westland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 51 | +30.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in Westland in March 2024, up by 30.8% month-over-month. Of the 51 sold homes, 24% were sold under asking, 12% were sold at asking, and 65% were sold over asking.
Days on Market for Westland, MI
How long does it take to sell a home in Westland, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 19 Days | -57.2% |
Summary: Homes in Westland had an average of 19 days on market in Mar 2024, down by 57.2% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 51 homes were sold in Westland; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.