Is Fairplain Township, MI 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, Fairplain Township was a Seller's Market.
Key Takeaway
Fairplain Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairplain Township, MI
How much do homes in Fairplain Township, MI cost?
Median Sold Price
$236,375
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairplain Township have sold for 18.2% more than they did a year ago.
Summary: The median home sold price in Fairplain Township was $236,375 in April 2024, up 18.2% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | - | N/A |
| 2 Bedrooms | $205K | $236.7K | +15.5% |
| 3 Bedrooms | $200K | $228.5K | +14.2% |
| 4 Bedrooms | $186.2K | $255K | +36.9% |
| 5+ Bedrooms | $300K | $236K | -21.3% |
Summary: Fairplain Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 36.9%, and 5+ bedroom homes decreased by 21.3%.
Median Sold Price Compared To Nearby Cities
| Sheridan | $169K | $213.7K | +26.5% |
| Fairplain Township | $200K | $236.3K | +18.2% |
Housing Supply in Fairplain Township, MI
How many homes are available in Fairplain Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Summary: The Fairplain Township real estate market had 9 homes for sale in April 2024, a 350.0% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 1 | 5 | +400.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Fairplain 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 increased by 100%, 3 bedroom homes increased by 400%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Fairplain Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Fairplain Township in April 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Fairplain Township, MI
How long does it take to sell a home in Fairplain Township, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairplain Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in Fairplain Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
