Is Okemos, 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, Okemos has remained a Seller's Market.
Housing Prices in Okemos, MI
How much do homes in Okemos, MI cost?
Median Sold Price
$364,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Okemos was $364,000 in April 2024, up 4.4% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103.5K | $200K | +93.2% |
2 Bedrooms | $110K | $196.5K | +78.6% |
3 Bedrooms | $302.5K | $303K | 0.2% |
4 Bedrooms | $395K | $445K | +12.7% |
5+ Bedrooms | $531K | $555.6K | +4.6% |
Summary: Okemos housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.2%, 2 bedroom homes increased by 78.6%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Cities
Haslett | $268K | $299K | +11.6% |
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 Okemos, MI
How many homes are available in Okemos, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
80 | 82 | +2.5% |
Summary: The Okemos real estate market had 82 homes for sale in April 2024, a 2.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 11 | 10 | -9.1% |
3 Bedrooms | 21 | 20 | -4.8% |
4 Bedrooms | 32 | 38 | +18.8% |
5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Okemos 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 decreased by 9.1%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 27 | +22.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Okemos in April 2024, up by 22.7% month-over-month. Of the 27 sold homes, 41% were sold under asking, 11% were sold at asking, and 48% were sold over asking.
Days on Market for Okemos, MI
How long does it take to sell a home in Okemos, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
45 Days | 50 Days | +10.4% |
Summary: Homes in Okemos had an average of 50 days on market in Apr 2024, up by 10.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in Okemos; 56% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.