Is Hazel Park, 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, Hazel Park has remained a Seller's Market.
Housing Prices in Hazel Park, MI
How much do homes in Hazel Park, MI cost?
Median Sold Price
$165,666
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hazel Park was $165,666 in April 2024, up 3.5% 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 | $139.9K | $97.9K | -30.0% |
2 Bedrooms | $133.2K | $147K | +10.3% |
3 Bedrooms | $174.4K | $175K | 0.3% |
4 Bedrooms | $194K | $196K | +1.0% |
5+ Bedrooms | $234.5K | $206.5K | -11.9% |
Summary: Hazel Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 11.9%.
Median Sold Price Compared To Nearby Cities
Royal Oak | $315K | $344.2K | +9.3% |
Warren | $171.6K | $184.4K | +7.5% |
Madison Heights | $195.7K | $207.3K | +5.9% |
Hazel Park | $160K | $165.6K | +3.5% |
Detroit | $80K | $81K | +1.3% |
Housing Supply in Hazel Park, MI
How many homes are available in Hazel Park, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 80 | +9.6% |
Summary: The Hazel Park real estate market had 80 homes for sale in April 2024, a 9.6% 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 | 28 | 25 | -10.7% |
3 Bedrooms | 32 | 41 | +28.1% |
4 Bedrooms | 12 | 13 | +8.3% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Hazel Park 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 10.7%, 3 bedroom homes increased by 28.1%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 23 | +9.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Hazel Park in April 2024, up by 9.5% month-over-month. Of the 23 sold homes, 43% were sold under asking, 22% were sold at asking, and 35% were sold over asking.
Days on Market for Hazel Park, MI
How long does it take to sell a home in Hazel Park, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
81 Days | 17 Days | -78.3% |
Summary: Homes in Hazel Park had an average of 17 days on market in Apr 2024, down by 78.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in Hazel Park; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.