Is Berlin Charter Township, 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, Berlin Charter Township has remained a Seller's Market.
Housing Prices in Berlin Charter Township, MI
How much do homes in Berlin Charter Township, MI cost?
Median Sold Price
$292,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Berlin Charter Township was $292,000 in May 2024, up 4.3% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $157.4K | $200K | +27.1% |
3 Bedrooms | $278.9K | $285K | +2.2% |
4 Bedrooms | $312.5K | $300K | -4.0% |
5+ Bedrooms | $350K | $355K | +1.4% |
Summary: Berlin Charter Township 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 27.1%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
Brownstown Charter Township | $269.2K | $303K | +12.5% |
Rockwood | $275K | $295K | +7.3% |
South Rockwood | $265K | $282.5K | +6.6% |
Berlin Charter Township | $279.9K | $292K | +4.3% |
Flat Rock | $305.5K | $312.9K | +2.4% |
Housing Supply in Berlin Charter Township, MI
How many homes are available in Berlin Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 38 | +18.8% |
Summary: The Berlin Charter Township real estate market had 38 homes for sale in May 2024, a 18.8% 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 | 0 | 2 | +100.0% |
3 Bedrooms | 21 | 21 | 0.0% |
4 Bedrooms | 10 | 14 | +40.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Berlin Charter Township 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Berlin Charter Township in May 2024, down by 11.1% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Berlin Charter Township, MI
How long does it take to sell a home in Berlin Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 27 Days | +63.2% |
Summary: Homes in Berlin Charter Township had an average of 27 days on market in May 2024, up by 63.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Berlin Charter Township; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.