Is Commerce Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Commerce Charter Township has remained a Seller's Market.
Housing Prices in Commerce Charter Township, MI
How much do homes in Commerce Charter Township, MI cost?
Median Sold Price
$372,075
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Commerce Charter Township was $372,075 in April 2024, up 10.4% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $241.2K | $335K | +38.9% |
2 Bedrooms | $247K | $270K | +9.3% |
3 Bedrooms | $310K | $340K | +9.7% |
4 Bedrooms | $480K | $510K | +6.3% |
5+ Bedrooms | $603.4K | $687.7K | +14.0% |
Summary: Commerce Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.9%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Cities
Wixom | $326.5K | $380K | +16.4% |
Commerce Township | $400K | $459.2K | +14.8% |
Commerce Charter Township | $337K | $372K | +10.4% |
Walled Lake | $250K | $267K | +6.8% |
Wolverine Lake | $280K | $297.5K | +6.3% |
Housing Supply in Commerce Charter Township, MI
How many homes are available in Commerce Charter Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
117 | 144 | +23.1% |
Summary: The Commerce Charter Township real estate market had 144 homes for sale in April 2024, a 23.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 27 | 26 | -3.7% |
3 Bedrooms | 53 | 62 | +17.0% |
4 Bedrooms | 29 | 45 | +55.2% |
5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Commerce Charter Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 55.2%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 40 | +14.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Commerce Charter Township in April 2024, up by 14.3% month-over-month. Of the 40 sold homes, 28% were sold under asking, 10% were sold at asking, and 63% were sold over asking.
Days on Market for Commerce Charter Township, MI
How long does it take to sell a home in Commerce Charter Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
97 Days | 27 Days | -72.0% |
Summary: Homes in Commerce Charter Township had an average of 27 days on market in Apr 2024, down by 72% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 40 homes were sold in Commerce Charter Township; 85% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.