Is Solon 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, Solon Township has remained a Seller's Market.
Housing Prices in Solon Township, MI
How much do homes in Solon Township, MI cost?
Median Sold Price
$302,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Solon Township was $302,000 in April 2024, up 0.7% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $117.5K | $217.4K | +85.1% |
3 Bedrooms | $270K | $298K | +10.4% |
4 Bedrooms | $320K | $306.5K | -4.2% |
5+ Bedrooms | $335K | $442K | +31.9% |
Summary: Solon Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 85.1%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Cities
Nelson Township | $250K | $296K | +18.4% |
Cedar Springs | $275K | $296K | +7.6% |
Ensley Township | $225K | $237.5K | +5.6% |
Algoma Township | $399.9K | $410K | +2.5% |
Solon Township | $300K | $302K | +0.7% |
Housing Supply in Solon Township, MI
How many homes are available in Solon Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 24 | +9.1% |
Summary: The Solon Township real estate market had 24 homes for sale in April 2024, a 9.1% 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 | 4 | 4 | 0.0% |
3 Bedrooms | 13 | 15 | +15.4% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Solon 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 remained the same, 3 bedroom homes increased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 12 | +300.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Solon Township in April 2024, up by 300.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for Solon Township, MI
How long does it take to sell a home in Solon Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
4 Days | 30 Days | +652.1% |
Summary: Homes in Solon Township had an average of 30 days on market in Apr 2024, up by 652.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Solon Township; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.