Is Wayne, 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, Wayne has remained a Seller's Market.
Housing Prices in Wayne, MI
How much do homes in Wayne, MI cost?
Median Sold Price
$160,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Wayne was $160,000 in April 2024, up 8.5% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $110K | $130K | +18.2% |
3 Bedrooms | $149.9K | $164K | +9.4% |
4 Bedrooms | $203.5K | $224K | +10.1% |
5+ Bedrooms | $225K | $260K | +15.6% |
Summary: Wayne 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 18.2%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 15.6%.
Housing Supply in Wayne, MI
How many homes are available in Wayne, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 39 | +25.8% |
Summary: The Wayne real estate market had 39 homes for sale in April 2024, a 25.8% 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 | 2 | 5 | +150.0% |
3 Bedrooms | 23 | 25 | +8.7% |
4 Bedrooms | 6 | 9 | +50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wayne 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 150%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Wayne in April 2024, up by 30.0% month-over-month. Of the 13 sold homes, 23% were sold under asking, 15% were sold at asking, and 62% were sold over asking.
Days on Market for Wayne, MI
How long does it take to sell a home in Wayne, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 25 Days | -17.7% |
Summary: Homes in Wayne had an average of 25 days on market in Apr 2024, down by 17.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Wayne; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.