Is Detroit-Shoreway, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Detroit-Shoreway was a Seller's Market.
Key Takeaway
Detroit-Shoreway is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Detroit-Shoreway, OH
How much do homes in Detroit-Shoreway, OH cost?
Median Sold Price
$240,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Detroit-Shoreway have sold for 12.7% less than they did a year ago.
Summary: The median home sold price in Detroit-Shoreway was $240,000 in April 2024, down 12.7% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $99.9K | -49.4% |
| 2 Bedrooms | $300K | $296.2K | -1.3% |
| 3 Bedrooms | $301.5K | $265K | -12.1% |
| 4 Bedrooms | $187.5K | $171.5K | -8.5% |
| 5+ Bedrooms | $272.5K | $223K | -18.2% |
Summary: Detroit-Shoreway housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 49.4%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes decreased by 18.2%.
Housing Supply in Detroit-Shoreway, OH
How many homes are available in Detroit-Shoreway, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 60 | +7.1% |
Summary: The Detroit-Shoreway real estate market had 60 homes for sale in April 2024, a 7.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 18 | 17 | -5.6% |
| 3 Bedrooms | 18 | 22 | +22.2% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Detroit-Shoreway housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Detroit-Shoreway, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Detroit-Shoreway in April 2024, down by 28.6% month-over-month. Of the 10 sold homes, 50% were sold under asking, 40% were sold at asking, and 10% were sold over asking.
Days on Market for Detroit-Shoreway, OH
How long does it take to sell a home in Detroit-Shoreway, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 41 Days | 75 Days | +83.2% |
Summary: Homes in Detroit-Shoreway had an average of 75 days on market in Apr 2024, up by 83.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Detroit-Shoreway are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 10 homes were sold in Detroit-Shoreway; 30% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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