Is Meridian 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, Meridian Charter Township has remained a Seller's Market.
Housing Prices in Meridian Charter Township, MI
How much do homes in Meridian Charter Township, MI cost?
Median Sold Price
$315,136
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Meridian Charter Township was $315,136 in May 2024, up 10.6% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87K | $89.5K | +2.9% |
2 Bedrooms | $150K | $179.9K | +19.9% |
3 Bedrooms | $275K | $280K | +1.8% |
4 Bedrooms | $365K | $392.5K | +7.5% |
5+ Bedrooms | $585K | $574.5K | -1.8% |
Summary: Meridian Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
Meridian Charter Township | $284.9K | $315.1K | +10.6% |
East Lansing | $265.4K | $289.9K | +9.2% |
Okemos | $344.2K | $373.7K | +8.6% |
Haslett | $274K | $297.5K | +8.6% |
Bath Charter Township | $328.6K | $349.9K | +6.5% |
Housing Supply in Meridian Charter Township, MI
How many homes are available in Meridian Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
137 | 152 | +10.9% |
Summary: The Meridian Charter Township real estate market had 152 homes for sale in May 2024, a 10.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 26 | 21 | -19.2% |
3 Bedrooms | 48 | 52 | +8.3% |
4 Bedrooms | 44 | 53 | +20.5% |
5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The Meridian Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 19.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 50 | 0.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 50 homes were sold or pending in Meridian Charter Township in May 2024, the same as the previous month. Of the 50 sold homes, 26% were sold under asking, 28% were sold at asking, and 46% were sold over asking.
Days on Market for Meridian Charter Township, MI
How long does it take to sell a home in Meridian Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
35 Days | 19 Days | -45.5% |
Summary: Homes in Meridian Charter Township had an average of 19 days on market in May 2024, down by 45.5% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 50 homes were sold in Meridian Charter Township; 90% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.