Is Bloomfield 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, Bloomfield Charter Township has remained a Seller's Market.
Housing Prices in Bloomfield Charter Township, MI
How much do homes in Bloomfield Charter Township, MI cost?
Median Sold Price
$599,400
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bloomfield Charter Township was $599,400 in May 2024, up 15.1% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110.4K | $123K | +11.4% |
2 Bedrooms | $229.4K | $224K | -2.4% |
3 Bedrooms | $444.9K | $499.5K | +12.2% |
4 Bedrooms | $619K | $704.5K | +13.8% |
5+ Bedrooms | $1.0M | $920K | -14.8% |
Summary: Bloomfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes decreased by 14.8%.
Median Sold Price Compared To Nearby Cities
Bloomfield Charter Township | $520.9K | $599.4K | +15.1% |
Bloomfield Hills | $537.5K | $613.2K | +14.1% |
Birmingham | $663.4K | $741.1K | +11.7% |
Southfield Township | $250K | $265.7K | +6.3% |
Franklin | $867K | $727K | -16.1% |
Housing Supply in Bloomfield Charter Township, MI
How many homes are available in Bloomfield Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
164 | 220 | +34.1% |
Summary: The Bloomfield Charter Township real estate market had 220 homes for sale in May 2024, a 34.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 18 | 23 | +27.8% |
3 Bedrooms | 48 | 64 | +33.3% |
4 Bedrooms | 74 | 90 | +21.6% |
5+ Bedrooms | 23 | 41 | +78.3% |
Summary: The Bloomfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 78.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 57 | -5.0% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 57 homes were sold or pending in Bloomfield Charter Township in May 2024, down by 5.0% month-over-month. Of the 57 sold homes, 44% were sold under asking, 14% were sold at asking, and 42% were sold over asking.
Days on Market for Bloomfield Charter Township, MI
How long does it take to sell a home in Bloomfield Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 15 Days | -46.4% |
Summary: Homes in Bloomfield Charter Township had an average of 15 days on market in May 2024, down by 46.4% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 57 homes were sold in Bloomfield Charter Township; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.