Is Orion 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, Orion Charter Township has remained a Seller's Market.
Housing Prices in Orion Charter Township, MI
How much do homes in Orion Charter Township, MI cost?
Median Sold Price
$377,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Orion Charter Township was $377,000 in May 2024, down 1.8% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $175K | N/A |
2 Bedrooms | $200K | $202K | +1.0% |
3 Bedrooms | $325K | $338K | +4.0% |
4 Bedrooms | $455K | $467K | +2.6% |
5+ Bedrooms | $550K | $587.5K | +6.8% |
Summary: Orion Charter 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 1%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
Oxford Charter Township | $374K | $398.6K | +6.6% |
Oakland | $657.5K | $680K | +3.4% |
Oakland Charter Township | $595K | $600K | +0.8% |
Orion Charter Township | $383.8K | $377K | -1.8% |
Lake Orion | $381.3K | $373.3K | -2.1% |
Housing Supply in Orion Charter Township, MI
How many homes are available in Orion Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
103 | 129 | +25.2% |
Summary: The Orion Charter Township real estate market had 129 homes for sale in May 2024, a 25.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 27 | 29 | +7.4% |
3 Bedrooms | 34 | 47 | +38.2% |
4 Bedrooms | 32 | 43 | +34.4% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Orion Charter 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 7.4%, 3 bedroom homes increased by 38.2%, 4 bedroom homes increased by 34.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 38 | +15.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Orion Charter Township in May 2024, up by 15.2% month-over-month. Of the 38 sold homes, 37% were sold under asking, 5% were sold at asking, and 58% were sold over asking.
Days on Market for Orion Charter Township, MI
How long does it take to sell a home in Orion Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 19 Days | +15.2% |
Summary: Homes in Orion Charter Township had an average of 19 days on market in May 2024, up by 15.2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Orion Charter Township; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.