Is Meridian 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, Meridian Charter Township has remained a Seller's Market.
Key Takeaway
Meridian Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Meridian Charter Township, MI
How much do homes in Meridian Charter Township, MI cost?
Median Sold Price
$315,136
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Meridian Charter Township have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Meridian Charter Township was $315,136 in May 2024, up 10.6% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87K | $89.5K | +2.9% |
| 2 Bedrooms | $150K | $179.9K | +19.9% |
| 3 Bedrooms | $275K | $280K | +1.8% |
| 4 Bedrooms | $365K | $392.5K | +7.5% |
| 5+ Bedrooms | $585K | $574.5K | -1.8% |
Summary: Meridian Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Meridian Charter Township | $284.9K | $315.1K | +10.6% |
| East Lansing | $265.4K | $289.9K | +9.2% |
| Okemos | $344.2K | $373.7K | +8.6% |
| Haslett | $274K | $297.5K | +8.6% |
| Bath Charter Township | $328.6K | $349.9K | +6.5% |
Housing Supply in Meridian Charter Township, MI
How many homes are available in Meridian Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 137 | 152 | +10.9% |
Summary: The Meridian Charter Township real estate market had 152 homes for sale in May 2024, a 10.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 26 | 21 | -19.2% |
| 3 Bedrooms | 48 | 52 | +8.3% |
| 4 Bedrooms | 44 | 53 | +20.5% |
| 5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The Meridian Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 19.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 50 | 0.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Meridian Charter Township, you could pay more than the asking price. 46% of homes here sold above asking price last month.
Summary: A total of 50 homes were sold or pending in Meridian Charter Township in May 2024, the same as the previous month. Of the 50 sold homes, 26% were sold under asking, 28% were sold at asking, and 46% were sold over asking.
Days on Market for Meridian Charter Township, MI
How long does it take to sell a home in Meridian Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 19 Days | -45.5% |
Summary: Homes in Meridian Charter Township had an average of 19 days on market in May 2024, down by 45.5% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Meridian Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 50 homes were sold in Meridian Charter Township; 90% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. 
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