Is Westland, 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, Westland has remained a Seller's Market.
Key Takeaway
Westland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westland, MI
How much do homes in Westland, MI cost?
Median Sold Price
$200,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westland have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Westland was $200,000 in April 2024, up 5.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.5K | $87K | +15.2% |
| 2 Bedrooms | $136.5K | $131.5K | -3.7% |
| 3 Bedrooms | $195.4K | $209.7K | +7.3% |
| 4 Bedrooms | $247.4K | $282.5K | +14.2% |
| 5+ Bedrooms | $255.5K | $365K | +42.9% |
Summary: Westland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 42.9%.
Median Sold Price Compared To Nearby Cities
| Inkster | $88K | $100K | +13.6% |
| Dearborn Heights | $169.9K | $191.5K | +12.7% |
| Garden City | $175K | $190.1K | +8.7% |
| Wayne | $147.5K | $160K | +8.5% |
| Westland | $190K | $200K | +5.3% |
Housing Supply in Westland, MI
How many homes are available in Westland, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 171 | 170 | -0.6% |
Summary: The Westland real estate market had 170 homes for sale in April 2024, a 0.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 30 | 26 | -13.3% |
| 3 Bedrooms | 119 | 116 | -2.5% |
| 4 Bedrooms | 17 | 23 | +35.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Westland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 66 | 61 | -7.6% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westland, you could pay more than the asking price. 47.5% of homes here sold above asking price last month.
Summary: A total of 61 homes were sold or pending in Westland in April 2024, down by 7.6% month-over-month. Of the 61 sold homes, 31% were sold under asking, 21% were sold at asking, and 48% were sold over asking.
Days on Market for Westland, MI
How long does it take to sell a home in Westland, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 23 Days | -25.3% |
Summary: Homes in Westland had an average of 23 days on market in Apr 2024, down by 25.3% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 61 homes were sold in Westland; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% 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.