Is Washington, 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, Washington has remained a Seller's Market.
Housing Prices in Washington, MI
How much do homes in Washington, MI cost?
Median Sold Price
$425,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Washington was $425,000 in May 2024, down 1.1% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $319.5K | $329.4K | +3.1% |
3 Bedrooms | $400K | $417.5K | +4.4% |
4 Bedrooms | $514.9K | $579K | +12.4% |
5+ Bedrooms | $710K | $885K | +24.6% |
Summary: Washington 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 3.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 24.6%.
Median Sold Price Compared To Nearby Cities
Romeo | $306K | $388.1K | +26.8% |
Oakland | $657.5K | $680K | +3.4% |
Washington Township | $405K | $415K | +2.5% |
Oakland Charter Township | $595K | $600K | +0.8% |
Washington | $429.5K | $425K | -1.1% |
Housing Supply in Washington, MI
How many homes are available in Washington, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
80 | 108 | +35.0% |
Summary: The Washington real estate market had 108 homes for sale in May 2024, a 35.0% 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 | 5 | 20 | +300.0% |
3 Bedrooms | 41 | 44 | +7.3% |
4 Bedrooms | 29 | 36 | +24.1% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Washington 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 300%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 23 | +27.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Washington in May 2024, up by 27.8% month-over-month. Of the 23 sold homes, 30% were sold under asking, 13% were sold at asking, and 57% were sold over asking.
Days on Market for Washington, MI
How long does it take to sell a home in Washington, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 15 Days | -18.5% |
Summary: Homes in Washington had an average of 15 days on market in May 2024, down by 18.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Washington; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.