Is Meridian 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, Meridian Charter Township has remained a Seller's Market.
Key Takeaway
Meridian Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Meridian Charter Township, MI
How much do homes in Meridian Charter Township, MI cost?
Median Sold Price
$308,329
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Meridian Charter Township have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Meridian Charter Township was $308,329 in April 2024, up 6.2% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87K | $89.5K | +2.9% |
| 2 Bedrooms | $152.7K | $160K | +4.7% |
| 3 Bedrooms | $272.7K | $275K | +0.8% |
| 4 Bedrooms | $362K | $394.7K | +9.0% |
| 5+ Bedrooms | $594.5K | $544.2K | -8.5% |
Summary: Meridian Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 9%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Haslett | $268K | $299K | +11.6% |
| Bath Charter Township | $324.9K | $350K | +7.7% |
| Meridian Charter Township | $290.2K | $308.3K | +6.2% |
| East Lansing | $268.9K | $284K | +5.6% |
| Okemos | $348.5K | $364K | +4.4% |
Housing Supply in Meridian Charter Township, MI
How many homes are available in Meridian Charter Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 126 | 136 | +7.9% |
Summary: The Meridian Charter Township real estate market had 136 homes for sale in April 2024, a 7.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 20 | 24 | +20.0% |
| 3 Bedrooms | 50 | 48 | -4.0% |
| 4 Bedrooms | 37 | 44 | +18.9% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Meridian Charter Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 48 | +26.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Meridian Charter Township, you could pay more than the asking price. 39.6% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in Meridian Charter Township in April 2024, up by 26.3% month-over-month. Of the 48 sold homes, 38% were sold under asking, 23% were sold at asking, and 40% were sold over asking.
Days on Market for Meridian Charter Township, MI
How long does it take to sell a home in Meridian Charter Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 37 Days | -0.0% |
Summary: Homes in Meridian Charter Township had an average of 37 days on market in Apr 2024, down by 0% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Meridian Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 48 homes were sold in Meridian Charter Township; 69% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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