Is Waterford 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, Waterford Charter Township has remained a Seller's Market.
Key Takeaway
Waterford Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Waterford Charter Township, MI
How much do homes in Waterford Charter Township, MI cost?
Median Sold Price
$254,848
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Waterford Charter Township have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Waterford Charter Township was $254,848 in May 2024, up 4.9% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $66.5K | $72.4K | +8.9% |
| 2 Bedrooms | $178K | $190K | +6.7% |
| 3 Bedrooms | $254.4K | $264.7K | +4.0% |
| 4 Bedrooms | $325K | $350K | +7.7% |
| 5+ Bedrooms | $380K | $305K | -19.7% |
Summary: Waterford Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 19.7%.
Housing Supply in Waterford Charter Township, MI
How many homes are available in Waterford Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 226 | 248 | +9.7% |
Summary: The Waterford Charter Township real estate market had 248 homes for sale in May 2024, a 9.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 42 | 47 | +11.9% |
| 3 Bedrooms | 133 | 146 | +9.8% |
| 4 Bedrooms | 42 | 43 | +2.4% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Waterford Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 90 | 79 | -12.2% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Waterford Charter Township, you could pay more than the asking price. 46.8% of homes here sold above asking price last month.
Summary: A total of 79 homes were sold or pending in Waterford Charter Township in May 2024, down by 12.2% month-over-month. Of the 79 sold homes, 34% were sold under asking, 19% were sold at asking, and 47% were sold over asking.
Days on Market for Waterford Charter Township, MI
How long does it take to sell a home in Waterford Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 15 Days | -27.0% |
Summary: Homes in Waterford Charter Township had an average of 15 days on market in May 2024, down by 27% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Waterford Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 79 homes were sold in Waterford Charter Township; 89% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.