Is Washtenaw County, 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, Washtenaw County has remained a Seller's Market.
Key Takeaway
Washtenaw County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Washtenaw County, MI
How much do homes in Washtenaw County, MI cost?
Median Sold Price
$390,134
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Washtenaw County have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Washtenaw County was $390,134 in April 2024, up 5.5% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $244K | +10.9% |
| 2 Bedrooms | $255K | $270.9K | +6.3% |
| 3 Bedrooms | $339.7K | $365.5K | +7.6% |
| 4 Bedrooms | $499.3K | $500.4K | 0.2% |
| 5+ Bedrooms | $684K | $681.6K | -0.3% |
Summary: Washtenaw County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 0.3%.
Median Sold Price Compared To Nearby Counties
| Washtenaw County | $369.7K | $390.1K | +5.5% |
| Monroe County | $229.4K | $239.9K | +4.6% |
| Livingston County | $348.9K | $364.8K | +4.5% |
| Oakland County | $322.3K | $334.3K | +3.7% |
| Wayne County | $179.7K | $181K | +0.7% |
Housing Supply in Washtenaw County, MI
How many homes are available in Washtenaw County, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 812 | 987 | +21.6% |
Summary: The Washtenaw County real estate market had 987 homes for sale in April 2024, a 21.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 18 | 0.0% |
| 2 Bedrooms | 148 | 187 | +26.4% |
| 3 Bedrooms | 338 | 401 | +18.6% |
| 4 Bedrooms | 249 | 302 | +21.3% |
| 5+ Bedrooms | 59 | 79 | +33.9% |
Summary: The Washtenaw County 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 26.4%, 3 bedroom homes increased by 18.6%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 33.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 227 | 279 | +22.9% |
Asking Price vs. Sold Price
88 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
151 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washtenaw County, you could pay more than the asking price. 54.1% of homes here sold above asking price last month.
Summary: A total of 279 homes were sold or pending in Washtenaw County in April 2024, up by 22.9% month-over-month. Of the 279 sold homes, 32% were sold under asking, 14% were sold at asking, and 54% were sold over asking.
Days on Market for Washtenaw County, MI
How long does it take to sell a home in Washtenaw County, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 34 Days | -8.6% |
Summary: Homes in Washtenaw County had an average of 34 days on market in Apr 2024, down by 8.6% compared to last year.
Breakdown of Home Sale Times
158 Homes Were Sold
Under 30 Days
101 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washtenaw County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 279 homes were sold in Washtenaw County; 57% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.