Is Concord Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Concord Township was a Seller's Market.
Key Takeaway
Concord Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Concord Township, MI
How much do homes in Concord Township, MI cost?
Median Sold Price
$222,900
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Concord Township have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in Concord Township was $222,900 in May 2024, down 0.7% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $179.5K | $138.5K | -22.8% |
| 2 Bedrooms | $224.5K | $175K | -22.0% |
| 3 Bedrooms | $201.5K | $247K | +22.6% |
| 4 Bedrooms | $262K | $196K | -25.2% |
| 5+ Bedrooms | $411K | $262.5K | -36.1% |
Summary: Concord Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.8%, 2 bedroom homes decreased by 22%, 3 bedroom homes increased by 22.6%, 4 bedroom homes decreased by 25.2%, and 5+ bedroom homes decreased by 36.1%.
Median Sold Price Compared To Nearby Cities
| Concord | $213K | $230K | +8.0% |
| Spring Arbor | $264.9K | $274K | +3.4% |
| Spring Arbor Township | $250K | $250K | 0.0% |
| Concord Township | $224.5K | $222.9K | -0.7% |
| Parma Township | $240K | $215K | -10.4% |
Housing Supply in Concord Township, MI
How many homes are available in Concord Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Summary: The Concord Township real estate market had 14 homes for sale in May 2024, a 75.0% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 1 | 4 | +300.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Concord 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 increased by 300%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Concord Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Concord Township in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Concord Township, MI
How long does it take to sell a home in Concord Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 70 Days | +59.1% |
Summary: Homes in Concord Township had an average of 70 days on market in May 2024, up by 59.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Concord Township has remained consistent over time.
Summary: During May 2024, 2 homes were sold in Concord Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
