Is Shelby 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, Shelby Township has remained a Buyer's Market.
Housing Prices in Shelby Township, MI
How much do homes in Shelby Township, MI cost?
Median Sold Price
$219,950
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Shelby Township was $219,950 in April 2024, up 15.8% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69.5K | $102.5K | +47.5% |
2 Bedrooms | $183.2K | $181K | -1.2% |
3 Bedrooms | $181K | $255K | +40.9% |
4 Bedrooms | $349.9K | $185K | -47.1% |
5+ Bedrooms | $252.6K | $172.5K | -31.7% |
Summary: Shelby Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.5%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 40.9%, 4 bedroom homes decreased by 47.1%, and 5+ bedroom homes decreased by 31.7%.
Median Sold Price Compared To Nearby Cities
Grant Township | $187K | $219.9K | +17.6% |
Shelby | $181K | $210K | +16.0% |
Shelby Township | $189.9K | $219.9K | +15.8% |
Housing Supply in Shelby Township, MI
How many homes are available in Shelby Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 19 | +11.8% |
Summary: The Shelby Township real estate market had 19 homes for sale in April 2024, a 11.8% increase 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 | 2 | -33.3% |
3 Bedrooms | 7 | 10 | +42.9% |
4 Bedrooms | 7 | 5 | -28.6% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Shelby 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 decreased by 33.3%, 3 bedroom homes increased by 42.9%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Shelby Township in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Shelby Township, MI
How long does it take to sell a home in Shelby Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 58 Days | +222.2% |
Summary: Homes in Shelby Township had an average of 58 days on market in Apr 2024, up by 222.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in Shelby Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.