Is Highland, 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, Highland has remained a Seller's Market.
Key Takeaway
Highland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Highland, MI
How much do homes in Highland, MI cost?
Median Sold Price
$332,500
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Highland have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Highland was $332,500 in May 2024, up 2.3% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $323K | $339.8K | +5.2% |
| 2 Bedrooms | $178.6K | $185K | +3.5% |
| 3 Bedrooms | $274K | $307.3K | +12.2% |
| 4 Bedrooms | $455K | $450K | -1.1% |
| 5+ Bedrooms | $428.5K | $569K | +32.8% |
Summary: Highland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 12.2%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 32.8%.
Median Sold Price Compared To Nearby Cities
| Milford Charter Township | $410K | $490K | +19.5% |
| White Lake Charter Township | $360K | $386K | +7.2% |
| Highland Charter Township | $330K | $339.6K | +2.9% |
| Hartland Township | $414.7K | $425K | +2.5% |
| Highland | $325K | $332.5K | +2.3% |
Housing Supply in Highland, MI
How many homes are available in Highland, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Summary: The Highland real estate market had 62 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 17 | 22 | +29.4% |
| 5+ Bedrooms | 3 | 8 | +166.7% |
Summary: The Highland 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 decreased by 12.5%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes increased by 166.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Highland in May 2024, down by 35.3% month-over-month. Of the 11 sold homes, 9% were sold under asking, 27% were sold at asking, and 64% were sold over asking.
Days on Market for Highland, MI
How long does it take to sell a home in Highland, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 11 Days | +26.7% |
Summary: Homes in Highland had an average of 11 days on market in May 2024, up by 26.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Highland are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Highland; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
