Is Wayne 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, Wayne County has remained a Seller's Market.
Housing Prices in Wayne County, MI
How much do homes in Wayne County, MI cost?
Median Sold Price
$181,056
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Wayne County was $181,056 in April 2024, up 0.7% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $93.2K | $110K | +18.0% |
2 Bedrooms | $137.2K | $142.2K | +3.7% |
3 Bedrooms | $170K | $172.9K | +1.7% |
4 Bedrooms | $310.7K | $313.2K | +0.8% |
5+ Bedrooms | $327.3K | $325.4K | -0.6% |
Summary: Wayne County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Counties
Macomb County | $226.5K | $239.9K | +5.9% |
Monroe County | $229.4K | $239.9K | +4.6% |
Oakland County | $322.3K | $334.3K | +3.7% |
Wayne County | $179.7K | $181K | +0.7% |
Housing Supply in Wayne County, MI
How many homes are available in Wayne County, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5,251 | 5,841 | +11.2% |
Summary: The Wayne County real estate market had 5,841 homes for sale in April 2024, a 11.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 97 | 116 | +19.6% |
2 Bedrooms | 893 | 975 | +9.2% |
3 Bedrooms | 3,120 | 3,448 | +10.5% |
4 Bedrooms | 903 | 1,023 | +13.3% |
5+ Bedrooms | 238 | 279 | +17.2% |
Summary: The Wayne County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.6%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 17.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,297 | 1,313 | +1.2% |
Asking Price vs. Sold Price
519 Homes Were Sold
Under Asking
233 Homes Were Sold
At Asking
561 Homes Were Sold
Over Asking
Summary: A total of 1,313 homes were sold or pending in Wayne County in April 2024, up by 1.2% month-over-month. Of the 1,313 sold homes, 40% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for Wayne County, MI
How long does it take to sell a home in Wayne County, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
66 Days | 29 Days | -55.9% |
Summary: Homes in Wayne County had an average of 29 days on market in Apr 2024, down by 55.9% compared to last year.
Breakdown of Home Sale Times
967 Homes Were Sold
Under 30 Days
236 Homes Were Sold
In 30 - 90 Days
110 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1313 homes were sold in Wayne County; 74% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.