Is Leighton 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, Leighton Township was a Seller's Market.
Key Takeaway
Leighton 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 Leighton Township, MI
How much do homes in Leighton Township, MI cost?
Median Sold Price
$352,500
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Leighton Township have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Leighton Township was $352,500 in May 2024, up 8.5% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $216.5K | $280.7K | +29.7% |
| 3 Bedrooms | $315K | $350K | +11.1% |
| 4 Bedrooms | $352K | $414.9K | +17.9% |
| 5+ Bedrooms | $390K | $600K | +53.8% |
Summary: Leighton 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 29.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 53.8%.
Median Sold Price Compared To Nearby Cities
| Wayland | $290K | $315K | +8.6% |
| Leighton Township | $324.9K | $352.5K | +8.5% |
| Dorr Township | $310K | $332.9K | +7.4% |
| Gaines Charter Township | $339.5K | $360K | +6.0% |
| Thornapple Township | $329.9K | $330K | 0.0% |
Housing Supply in Leighton Township, MI
How many homes are available in Leighton Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Summary: The Leighton Township real estate market had 19 homes for sale in May 2024, a 5.0% decrease 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 | 13 | 13 | 0.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Leighton 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 decreased by 20%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 3 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leighton Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Leighton Township in May 2024, down by 66.7% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Leighton Township, MI
How long does it take to sell a home in Leighton Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 22 Days | -31.8% |
Summary: Homes in Leighton Township had an average of 22 days on market in May 2024, down by 31.8% compared to last year.
Breakdown of Home Sale Times
2 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 Leighton Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Leighton Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
