Is West Bloomfield, 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, West Bloomfield has remained a Seller's Market.
Key Takeaway
West Bloomfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Bloomfield, MI
How much do homes in West Bloomfield, MI cost?
Median Sold Price
$400,666
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in West Bloomfield has remained the same since last year.
Summary: The median home sold price in West Bloomfield was $400,666 in April 2024, up 0.2% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.5K | $93.6K | +7.0% |
| 2 Bedrooms | $260K | $250K | -3.8% |
| 3 Bedrooms | $340K | $349.5K | +2.8% |
| 4 Bedrooms | $468.2K | $480K | +2.5% |
| 5+ Bedrooms | $651K | $675K | +3.7% |
Summary: West Bloomfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| West Bloomfield Charter Township | $395K | $400K | +1.3% |
| West Bloomfield | $400K | $400.6K | 0.2% |
| Keego Harbor | $235K | $194K | -17.4% |
Housing Supply in West Bloomfield, MI
How many homes are available in West Bloomfield, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 176 | 201 | +14.2% |
Summary: The West Bloomfield real estate market had 201 homes for sale in April 2024, a 14.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 38 | 43 | +13.2% |
| 3 Bedrooms | 50 | 65 | +30.0% |
| 4 Bedrooms | 69 | 69 | 0.0% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The West Bloomfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 57 | -3.4% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Bloomfield, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 57 homes were sold or pending in West Bloomfield in April 2024, down by 3.4% month-over-month. Of the 57 sold homes, 47% were sold under asking, 16% were sold at asking, and 37% were sold over asking.
Days on Market for West Bloomfield, MI
How long does it take to sell a home in West Bloomfield, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 31 Days | -34.3% |
Summary: Homes in West Bloomfield had an average of 31 days on market in Apr 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Bloomfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 57 homes were sold in West Bloomfield; 72% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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