Is Milford 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, Milford Charter Township has remained a Seller's Market.
Housing Prices in Milford Charter Township, MI
How much do homes in Milford Charter Township, MI cost?
Median Sold Price
$490,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Milford Charter Township was $490,000 in May 2024, up 19.5% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $197.5K | +51.9% |
2 Bedrooms | $237.5K | $263.5K | +10.9% |
3 Bedrooms | $342K | $391K | +14.3% |
4 Bedrooms | $520K | $600K | +15.4% |
5+ Bedrooms | $727.9K | $750K | +3.0% |
Summary: Milford Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51.9%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
Milford Charter Township | $410K | $490K | +19.5% |
Milford | $410K | $490K | +19.5% |
New Hudson | $427K | $480K | +12.4% |
Brighton Township | $400K | $414K | +3.5% |
Highland Charter Township | $330K | $339.6K | +2.9% |
Housing Supply in Milford Charter Township, MI
How many homes are available in Milford Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
84 | 110 | +31.0% |
Summary: The Milford Charter Township real estate market had 110 homes for sale in May 2024, a 31.0% 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 | 13 | 18 | +38.5% |
3 Bedrooms | 37 | 39 | +5.4% |
4 Bedrooms | 29 | 45 | +55.2% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Milford 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 38.5%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 55.2%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 21 | +10.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Milford Charter Township in May 2024, up by 10.5% month-over-month. Of the 21 sold homes, 48% were sold under asking, 19% were sold at asking, and 33% were sold over asking.
Days on Market for Milford Charter Township, MI
How long does it take to sell a home in Milford Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 20 Days | +80.7% |
Summary: Homes in Milford Charter Township had an average of 20 days on market in May 2024, up by 80.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Milford Charter Township; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.