Is Washington 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, Washington Township has remained a Seller's Market.
Housing Prices in Washington Township, MI
How much do homes in Washington Township, MI cost?
Median Sold Price
$415,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Washington Township was $415,000 in May 2024, up 2.5% 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 | $310K | $323.1K | +4.2% |
3 Bedrooms | $390K | $409.7K | +5.1% |
4 Bedrooms | $509.2K | $571.5K | +12.2% |
5+ Bedrooms | $685K | $885K | +29.2% |
Summary: Washington 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 4.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 29.2%.
Median Sold Price Compared To Nearby Cities
Romeo | $306K | $388.1K | +26.8% |
Oakland | $657.5K | $680K | +3.4% |
Shelby Charter Township | $330.2K | $340.6K | +3.2% |
Washington Township | $405K | $415K | +2.5% |
Washington | $429.5K | $425K | -1.1% |
Housing Supply in Washington Township, MI
How many homes are available in Washington Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
87 | 118 | +35.6% |
Summary: The Washington Township real estate market had 118 homes for sale in May 2024, a 35.6% 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 | 6 | 22 | +266.7% |
3 Bedrooms | 44 | 49 | +11.4% |
4 Bedrooms | 32 | 39 | +21.9% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Washington 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 266.7%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 28 | +40.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Washington Township in May 2024, up by 40.0% month-over-month. Of the 28 sold homes, 29% were sold under asking, 11% were sold at asking, and 61% were sold over asking.
Days on Market for Washington Township, MI
How long does it take to sell a home in Washington Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 15 Days | -16.1% |
Summary: Homes in Washington Township had an average of 15 days on market in May 2024, down by 16.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Washington Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.