Is Brighton, 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, Brighton has remained a Seller's Market.
Key Takeaway
Brighton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Brighton, MI
How much do homes in Brighton, MI cost?
Median Sold Price
$410,225
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Brighton have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Brighton was $410,225 in May 2024, up 3.3% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.9K | $141.2K | -5.8% |
| 2 Bedrooms | $282.5K | $300K | +6.2% |
| 3 Bedrooms | $356.6K | $375K | +5.1% |
| 4 Bedrooms | $500K | $527.5K | +5.5% |
| 5+ Bedrooms | $572.4K | $675K | +17.9% |
Summary: Brighton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
| Genoa Township | $358.2K | $401K | +11.9% |
| Green Oak Township | $399K | $430K | +7.8% |
| Brighton Township | $400K | $414K | +3.5% |
| Brighton | $397K | $410.2K | +3.3% |
Housing Supply in Brighton, MI
How many homes are available in Brighton, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 177 | 192 | +8.5% |
Summary: The Brighton real estate market had 192 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 32 | 34 | +6.3% |
| 3 Bedrooms | 78 | 78 | 0.0% |
| 4 Bedrooms | 50 | 55 | +10.0% |
| 5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The Brighton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 6.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 57 | 43 | -24.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brighton, you could pay more than the asking price. 48.8% of homes here sold above asking price last month.
Summary: A total of 43 homes were sold or pending in Brighton in May 2024, down by 24.6% month-over-month. Of the 43 sold homes, 37% were sold under asking, 14% were sold at asking, and 49% were sold over asking.
Days on Market for Brighton, MI
How long does it take to sell a home in Brighton, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 27 Days | +14.8% |
Summary: Homes in Brighton had an average of 27 days on market in May 2024, up by 14.8% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brighton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 43 homes were sold in Brighton; 74% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 12% 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.