Is Canton, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Canton has remained a Seller's Market.
Key Takeaway
Canton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Canton, MI
How much do homes in Canton, MI cost?
Median Sold Price
$372,250
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Canton have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Canton was $372,250 in April 2024, up 6.5% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.9K | $105K | -47.5% |
| 2 Bedrooms | $235K | $250K | +6.4% |
| 3 Bedrooms | $323.5K | $352.2K | +8.9% |
| 4 Bedrooms | $434.1K | $500K | +15.2% |
| 5+ Bedrooms | $600K | $661.4K | +10.2% |
Summary: Canton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.5%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 10.2%.
Median Sold Price Compared To Nearby Cities
| Wayne | $147.5K | $160K | +8.5% |
| Canton | $349.6K | $372.2K | +6.5% |
| Canton Charter Township | $349.7K | $372.5K | +6.5% |
| Plymouth Charter Township | $402K | $425.5K | +5.8% |
| Westland | $190K | $200K | +5.3% |
Housing Supply in Canton, MI
How many homes are available in Canton, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 202 | 221 | +9.4% |
Summary: The Canton real estate market had 221 homes for sale in April 2024, a 9.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 52 | 56 | +7.7% |
| 3 Bedrooms | 79 | 90 | +13.9% |
| 4 Bedrooms | 63 | 66 | +4.8% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Canton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 75 | 79 | +5.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Canton, you could pay more than the asking price. 60.8% of homes here sold above asking price last month.
Summary: A total of 79 homes were sold or pending in Canton in April 2024, up by 5.3% month-over-month. Of the 79 sold homes, 23% were sold under asking, 16% were sold at asking, and 61% were sold over asking.
Days on Market for Canton, MI
How long does it take to sell a home in Canton, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 16 Days | -48.3% |
Summary: Homes in Canton had an average of 16 days on market in Apr 2024, down by 48.3% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Canton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 79 homes were sold in Canton; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.