Is Auburn, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Auburn has remained a Seller's Market.
Key Takeaway
Auburn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Auburn, MI
How much do homes in Auburn, MI cost?
Median Sold Price
$210,850
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Auburn have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Auburn was $210,850 in May 2024, up 8.1% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $125K | $143.9K | +15.2% |
| 3 Bedrooms | $190K | $255.8K | +34.7% |
| 4 Bedrooms | $300K | $202.7K | -32.4% |
| 5+ Bedrooms | $231.2K | $330K | +42.7% |
Summary: Auburn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 34.7%, 4 bedroom homes decreased by 32.4%, and 5+ bedroom homes increased by 42.7%.
Housing Supply in Auburn, MI
How many homes are available in Auburn, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 20 | +42.9% |
Summary: The Auburn real estate market had 20 homes for sale in May 2024, a 42.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 6 | 12 | +100.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Auburn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Auburn, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Auburn in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 14% were sold under asking, 57% were sold at asking, and 29% were sold over asking.
Days on Market for Auburn, MI
How long does it take to sell a home in Auburn, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 10 Days | +81.8% |
Summary: Homes in Auburn had an average of 10 days on market in May 2024, up by 81.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Auburn are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Auburn; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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.