Is Sylvan 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, Sylvan Township was a Buyer's Market.
Housing Prices in Sylvan Township, MI
How much do homes in Sylvan Township, MI cost?
Median Sold Price
$425,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sylvan Township was $425,000 in May 2024, up 3.7% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $252.1K | $234K | -7.2% |
3 Bedrooms | $405K | $420K | +3.7% |
4 Bedrooms | $485K | $522.4K | +7.7% |
5+ Bedrooms | - | - | N/A |
Summary: Sylvan 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 decreased by 7.2%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lyndon Township | $380K | $425K | +11.8% |
Lima Township | $395K | $437.4K | +10.7% |
Dexter Township | $450K | $495K | +10.0% |
Chelsea | $375K | $405K | +8.0% |
Sylvan Township | $410K | $425K | +3.7% |
Housing Supply in Sylvan Township, MI
How many homes are available in Sylvan Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 12 | -25.0% |
Summary: The Sylvan Township real estate market had 12 homes for sale in May 2024, a 25.0% 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 | 2 | 1 | -50.0% |
3 Bedrooms | 7 | 6 | -14.3% |
4 Bedrooms | 6 | 4 | -33.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sylvan 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 decreased by 50%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Sylvan Township in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Sylvan Township, MI
How long does it take to sell a home in Sylvan Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
48 Days | 81 Days | +70.3% |
Summary: Homes in Sylvan Township had an average of 81 days on market in May 2024, up by 70.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Sylvan Township; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.