Is Commerce Township, 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, Commerce Township has remained a Seller's Market.
Housing Prices in Commerce Township, MI
How much do homes in Commerce Township, MI cost?
Median Sold Price
$459,233
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Commerce Township was $459,233 in April 2024, up 14.8% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $400K | $335K | -16.3% |
2 Bedrooms | $225K | $240K | +6.7% |
3 Bedrooms | $313.2K | $400K | +27.7% |
4 Bedrooms | $482K | $535K | +11.0% |
5+ Bedrooms | $600.9K | $672.7K | +12.0% |
Summary: Commerce Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 27.7%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
Wixom | $326.5K | $380K | +16.4% |
Commerce Township | $400K | $459.2K | +14.8% |
Commerce Charter Township | $337K | $372K | +10.4% |
White Lake Charter Township | $350K | $385.8K | +10.2% |
White Lake | $350K | $385.8K | +10.2% |
Housing Supply in Commerce Township, MI
How many homes are available in Commerce Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 68 | +23.6% |
Summary: The Commerce Township real estate market had 68 homes for sale in April 2024, a 23.6% 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 | 5 | 3 | -40.0% |
3 Bedrooms | 31 | 32 | +3.2% |
4 Bedrooms | 14 | 27 | +92.9% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Commerce Township 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 decreased by 40%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 92.9%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 14 | -22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Commerce Township in April 2024, down by 22.2% month-over-month. Of the 14 sold homes, 21% were sold under asking, 14% were sold at asking, and 64% were sold over asking.
Days on Market for Commerce Township, MI
How long does it take to sell a home in Commerce Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
107 Days | 20 Days | -81.0% |
Summary: Homes in Commerce Township had an average of 20 days on market in Apr 2024, down by 81% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in Commerce Township; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.