Is Putnam Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Putnam Township was a Seller's Market.
Key Takeaway
Putnam Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Putnam Township, MI
How much do homes in Putnam Township, MI cost?
Median Sold Price
$340,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Putnam Township have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Putnam Township was $340,000 in April 2024, up 10.6% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223K | $180K | -19.3% |
| 2 Bedrooms | $223K | $318K | +42.6% |
| 3 Bedrooms | $290K | $330K | +13.8% |
| 4 Bedrooms | $438.5K | $425K | -3.1% |
| 5+ Bedrooms | $370K | $475K | +28.4% |
Summary: Putnam Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.3%, 2 bedroom homes increased by 42.6%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 28.4%.
Median Sold Price Compared To Nearby Cities
| Gregory | $269.9K | $315K | +16.7% |
| Putnam Township | $307.5K | $340K | +10.6% |
| Dexter Township | $448.7K | $496.2K | +10.6% |
| Pinckney | $350K | $375K | +7.1% |
Housing Supply in Putnam Township, MI
How many homes are available in Putnam Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 38 | +35.7% |
Summary: The Putnam Township real estate market had 38 homes for sale in April 2024, a 35.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 8 | +166.7% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 6 | 10 | +66.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Putnam 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 increased by 166.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Putnam Township, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Putnam Township in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Putnam Township, MI
How long does it take to sell a home in Putnam Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 140 Days | 17 Days | -87.6% |
Summary: Homes in Putnam Township had an average of 17 days on market in Apr 2024, down by 87.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Putnam Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Putnam Township; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
