Is Manchester 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, Manchester Township has remained a Seller's Market.
Housing Prices in Manchester Township, MI
How much do homes in Manchester Township, MI cost?
Median Sold Price
$312,500
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Manchester Township was $312,500 in May 2024, up 9.6% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $160K | $173.5K | +8.5% |
3 Bedrooms | $300.4K | $350K | +16.5% |
4 Bedrooms | $359.9K | $393K | +9.2% |
5+ Bedrooms | $452.5K | $406K | -10.3% |
Summary: Manchester Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 16.5%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes decreased by 10.3%.
Median Sold Price Compared To Nearby Cities
Franklin Township | $457.5K | $560K | +22.4% |
Manchester | $291K | $330K | +13.4% |
Bridgewater Township | $401.2K | $443.5K | +10.5% |
Manchester Township | $285K | $312.5K | +9.6% |
Tipton | $310.2K | $318.5K | +2.7% |
Housing Supply in Manchester Township, MI
How many homes are available in Manchester Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 30 | +20.0% |
Summary: The Manchester Township real estate market had 30 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 7 | 4 | -42.9% |
3 Bedrooms | 9 | 12 | +33.3% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Manchester 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 decreased by 42.9%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 8 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Manchester Township in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for Manchester Township, MI
How long does it take to sell a home in Manchester Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 34 Days | -15.5% |
Summary: Homes in Manchester Township had an average of 34 days on market in May 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Manchester Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.