Is Wyoming, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Wyoming has remained a Seller's Market.
Key Takeaway
Wyoming is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wyoming, MI
How much do homes in Wyoming, MI cost?
Median Sold Price
$261,296
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Wyoming have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Wyoming was $261,296 in June 2024, up 10.8% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $171.8K | +37.4% |
| 2 Bedrooms | $192.5K | $217.2K | +12.9% |
| 3 Bedrooms | $238.7K | $260K | +8.9% |
| 4 Bedrooms | $281K | $300K | +6.8% |
| 5+ Bedrooms | $345K | $414K | +20.0% |
Summary: Wyoming housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.4%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Cities
| Wyoming | $235.9K | $261.2K | +10.8% |
| Byron Township | $365K | $404K | +10.7% |
| Grand Rapids | $276.1K | $302.1K | +9.4% |
| Kentwood | $297K | $319K | +7.4% |
| Grandville | $321.9K | $345K | +7.2% |
Housing Supply in Wyoming, MI
How many homes are available in Wyoming, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 190 | 168 | -11.6% |
Summary: The Wyoming real estate market had 168 homes for sale in June 2024, a 11.6% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 38 | 27 | -28.9% |
| 3 Bedrooms | 95 | 94 | -1.1% |
| 4 Bedrooms | 46 | 35 | -23.9% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Wyoming housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 28.9%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 23.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 85 | 48 | -43.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wyoming, you could pay more than the asking price. 60.4% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in Wyoming in June 2024, down by 43.5% month-over-month. Of the 48 sold homes, 21% were sold under asking, 19% were sold at asking, and 60% were sold over asking.
Days on Market for Wyoming, MI
How long does it take to sell a home in Wyoming, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 14 Days | 15 Days | +5.1% |
Summary: Homes in Wyoming had an average of 15 days on market in Jun 2024, up by 5.1% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wyoming are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 48 homes were sold in Wyoming; 92% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
