Is Troy 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, Troy Township has remained a Seller's Market.
Housing Prices in Troy Township, MI
How much do homes in Troy Township, MI cost?
Median Sold Price
$404,375
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Troy Township was $404,375 in April 2024, up 4.5% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $116.2K | $129.5K | +11.4% |
2 Bedrooms | $258K | $264.9K | +2.7% |
3 Bedrooms | $335K | $349.1K | +4.2% |
4 Bedrooms | $509K | $527.5K | +3.6% |
5+ Bedrooms | $631K | $670K | +6.2% |
Summary: Troy Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
Lake Township | $132K | $140K | +6.1% |
Pleasant Plains Township | $124.9K | $132.4K | +6.0% |
Troy Township | $386.8K | $404.3K | +4.5% |
Lilley Township | $131K | $126.7K | -3.2% |
Bitely | $130K | $122.5K | -5.8% |
Housing Supply in Troy Township, MI
How many homes are available in Troy Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
139 | 155 | +11.5% |
Summary: The Troy Township real estate market had 155 homes for sale in April 2024, a 11.5% increase 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 | 20 | 19 | -5.0% |
3 Bedrooms | 48 | 61 | +27.1% |
4 Bedrooms | 63 | 66 | +4.8% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Troy Township 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 5%, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 55 | +14.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Troy Township in April 2024, up by 14.6% month-over-month. Of the 55 sold homes, 18% were sold under asking, 11% were sold at asking, and 71% were sold over asking.
Days on Market for Troy Township, MI
How long does it take to sell a home in Troy Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
80 Days | 13 Days | -83.1% |
Summary: Homes in Troy Township had an average of 13 days on market in Apr 2024, down by 83.1% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 55 homes were sold in Troy Township; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.