Is Royalton 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, Royalton Township has remained a Seller's Market.
Key Takeaway
Royalton Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Royalton Township, MI
How much do homes in Royalton Township, MI cost?
Median Sold Price
$414,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Royalton Township have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Royalton Township was $414,000 in May 2024, up 6.2% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $206K | $266.9K | +29.6% |
| 3 Bedrooms | $314.9K | $315K | 0.0% |
| 4 Bedrooms | $438.3K | $415K | -5.3% |
| 5+ Bedrooms | $417.9K | $546.2K | +30.7% |
Summary: Royalton 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 29.6%, 3 bedroom homes did not change, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 30.7%.
Median Sold Price Compared To Nearby Cities
| Benton Charter Township | $138.9K | $167K | +20.2% |
| Saint Joseph Charter Township | $243K | $287.4K | +18.3% |
| Royalton Township | $390K | $414K | +6.2% |
Housing Supply in Royalton Township, MI
How many homes are available in Royalton Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The Royalton Township real estate market had 23 homes for sale in May 2024, a 4.5% 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 | 1 | 0.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Royalton 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Royalton Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Royalton Township in May 2024, up by 250.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Royalton Township, MI
How long does it take to sell a home in Royalton Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 37 Days | -28.9% |
Summary: Homes in Royalton Township had an average of 37 days on market in May 2024, down by 28.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Royalton Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Royalton Township; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.