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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ypsilanti Charter Township is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Ypsilanti Charter Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Ypsilanti Charter Township, MI

How much do homes in Ypsilanti Charter Township, MI cost?

Median Sold Price

$274,075

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$9,046(+3.4%)

Key Takeaway

Homes in Ypsilanti Charter Township have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Ypsilanti Charter Township was $274,075 in March 2024, up 3.4% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $135K$113K
-16.3%
2 $190K$200.5K
+5.5%
3 $254.9K$250.7K
-1.7%
4 $358K$370K
+3.4%
5+ $360K$383.3K
+6.5%

Summary: Ypsilanti Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes increased by 5.5%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 6.5%.

Median Sold Price Compared To Nearby Cities

Superior Charter Township
+9.4%
Ypsilanti Charter Township
+3.4%
Van Buren Charter Township
+3.0%
Augusta Charter Township
+2.9%
Ypsilanti
+2.2%

Housing Supply in Ypsilanti Charter Township, MI

How many homes are available in Ypsilanti Charter Township, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
169184+8.9%

Summary: The Ypsilanti Charter Township real estate market had 184 homes for sale in March 2024, a 8.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 2238
+72.7%
3 9186
-5.5%
4 4450
+13.6%
5+ 119
-18.2%

Summary: The Ypsilanti Charter Township 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 72.7%, 3 bedroom homes decreased by 5.5%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
5855-5.2%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ypsilanti Charter Township, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 55 homes were sold or pending in Ypsilanti Charter Township in March 2024, down by 5.2% month-over-month. Of the 55 sold homes, 33% were sold under asking, 22% were sold at asking, and 45% were sold over asking.

Days on Market for Ypsilanti Charter Township, MI

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

Average Sale Time

Mar 2023Mar 2024CHANGE
50 Days25 Days-48.7%

Summary: Homes in Ypsilanti Charter Township had an average of 25 days on market in Mar 2024, down by 48.7% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 55 homes were sold in Ypsilanti Charter Township; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 7% 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 12 Days Ago

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