Is Pontiac, 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, Pontiac has remained a Seller's Market.
Housing Prices in Pontiac, MI
How much do homes in Pontiac, MI cost?
Median Sold Price
$135,006
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Pontiac was $135,006 in April 2024, up 10.3% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $42.2K | $182.5K | +332.0% |
2 Bedrooms | $85.3K | $96.9K | +13.6% |
3 Bedrooms | $127.7K | $136.5K | +6.9% |
4 Bedrooms | $174.9K | $231.9K | +32.6% |
5+ Bedrooms | $237.2K | $257.9K | +8.7% |
Summary: Pontiac housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 332%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 32.6%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
Pontiac | $122.4K | $135K | +10.3% |
Auburn Hills | $246.7K | $268K | +8.6% |
Waterford Charter Township | $244.8K | $250K | +2.1% |
Housing Supply in Pontiac, MI
How many homes are available in Pontiac, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
157 | 147 | -6.4% |
Summary: The Pontiac real estate market had 147 homes for sale in April 2024, a 6.4% decrease 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 | 37 | 34 | -8.1% |
3 Bedrooms | 82 | 82 | 0.0% |
4 Bedrooms | 34 | 28 | -17.6% |
5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Pontiac 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 8.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 37 | -22.9% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Pontiac in April 2024, down by 22.9% month-over-month. Of the 37 sold homes, 46% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Pontiac, MI
How long does it take to sell a home in Pontiac, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 38 Days | +21.2% |
Summary: Homes in Pontiac had an average of 38 days on market in Apr 2024, up by 21.2% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 37 homes were sold in Pontiac; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.