Is Madison Charter 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, Madison Charter Township has remained a Seller's Market.
Housing Prices in Madison Charter Township, MI
How much do homes in Madison Charter Township, MI cost?
Median Sold Price
$205,567
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Madison Charter Township was $205,567 in April 2024, down 0.2% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $132K | N/A |
2 Bedrooms | $167.5K | $190K | +13.4% |
3 Bedrooms | $205.5K | $211.5K | +2.9% |
4 Bedrooms | $250K | $267.4K | +7.0% |
5+ Bedrooms | $300K | $190K | -36.7% |
Summary: Madison Charter 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 13.4%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 36.7%.
Median Sold Price Compared To Nearby Cities
Adrian | $160K | $184.6K | +15.4% |
Madison Charter Township | $206K | $205.5K | -0.2% |
Adrian Township | $219.7K | $184.6K | -16.0% |
Housing Supply in Madison Charter Township, MI
How many homes are available in Madison Charter Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 24 | -11.1% |
Summary: The Madison Charter Township real estate market had 24 homes for sale in April 2024, a 11.1% decrease 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 | 3 | 3 | 0.0% |
3 Bedrooms | 16 | 14 | -12.5% |
4 Bedrooms | 8 | 7 | -12.5% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Madison Charter 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Madison Charter Township in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Madison Charter Township, MI
How long does it take to sell a home in Madison Charter Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
47 Days | 64 Days | +36.4% |
Summary: Homes in Madison Charter Township had an average of 64 days on market in Apr 2024, up by 36.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Madison Charter Township; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.