Is Davison 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, Davison Township has remained a Seller's Market.
Housing Prices in Davison Township, MI
How much do homes in Davison Township, MI cost?
Median Sold Price
$242,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Davison Township was $242,000 in May 2024, up 3% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $102.5K | $198K | +93.2% |
2 Bedrooms | $165K | $198.5K | +20.3% |
3 Bedrooms | $227K | $239.9K | +5.7% |
4 Bedrooms | $289.9K | $303K | +4.5% |
5+ Bedrooms | $291.1K | $349.9K | +20.2% |
Summary: Davison Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.2%, 2 bedroom homes increased by 20.3%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 20.2%.
Median Sold Price Compared To Nearby Cities
Elba Township | $254K | $300.5K | +18.3% |
Davison Township | $234.9K | $242K | +3.0% |
Davison | $234.9K | $241.7K | +2.9% |
Hadley Township | $377K | $385K | +2.1% |
Richfield Township | $234.9K | $239K | +1.7% |
Housing Supply in Davison Township, MI
How many homes are available in Davison Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
108 | 118 | +9.3% |
Summary: The Davison Township real estate market had 118 homes for sale in May 2024, a 9.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 9 | 16 | +77.8% |
3 Bedrooms | 59 | 57 | -3.4% |
4 Bedrooms | 32 | 37 | +15.6% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Davison 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 77.8%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 40 | +21.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Davison Township in May 2024, up by 21.2% month-over-month. Of the 40 sold homes, 35% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Davison Township, MI
How long does it take to sell a home in Davison Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 19 Days | -11.0% |
Summary: Homes in Davison Township had an average of 19 days on market in May 2024, down by 11% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 40 homes were sold in Davison Township; 78% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.