Is Warren, 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, Warren has remained a Seller's Market.
Housing Prices in Warren, MI
How much do homes in Warren, MI cost?
Median Sold Price
$184,400
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Warren was $184,400 in April 2024, up 7.5% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | $92K | +41.5% |
2 Bedrooms | $105K | $112.1K | +6.8% |
3 Bedrooms | $185.1K | $210.2K | +13.5% |
4 Bedrooms | $235K | $239.5K | +1.9% |
5+ Bedrooms | $267K | $242K | -9.4% |
Summary: Warren housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.5%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 9.4%.
Median Sold Price Compared To Nearby Cities
Center Line | $150K | $169.2K | +12.8% |
Warren | $171.6K | $184.4K | +7.5% |
Fraser | $215K | $230K | +7.0% |
Eastpointe | $140.9K | $150K | +6.4% |
Roseville | $153.9K | $160.4K | +4.2% |
Housing Supply in Warren, MI
How many homes are available in Warren, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
294 | 377 | +28.2% |
Summary: The Warren real estate market had 377 homes for sale in April 2024, a 28.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 9 | +50.0% |
2 Bedrooms | 63 | 82 | +30.2% |
3 Bedrooms | 183 | 233 | +27.3% |
4 Bedrooms | 38 | 47 | +23.7% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Warren housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 30.2%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
103 | 108 | +4.9% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Summary: A total of 108 homes were sold or pending in Warren in April 2024, up by 4.9% month-over-month. Of the 108 sold homes, 39% were sold under asking, 12% were sold at asking, and 49% were sold over asking.
Days on Market for Warren, MI
How long does it take to sell a home in Warren, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
53 Days | 24 Days | -54.5% |
Summary: Homes in Warren had an average of 24 days on market in Apr 2024, down by 54.5% compared to last year.
Breakdown of Home Sale Times
84 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 108 homes were sold in Warren; 78% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.