Is Shelby 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, Shelby Charter Township has remained a Seller's Market.
Housing Prices in Shelby Charter Township, MI
How much do homes in Shelby Charter Township, MI cost?
Median Sold Price
$340,666
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Shelby Charter Township was $340,666 in May 2024, up 3.2% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69.5K | $138.5K | +99.3% |
2 Bedrooms | $230K | $249.2K | +8.3% |
3 Bedrooms | $320K | $338.4K | +5.8% |
4 Bedrooms | $525K | $530K | +1.0% |
5+ Bedrooms | $605K | $527.5K | -12.8% |
Summary: Shelby Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 99.3%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 12.8%.
Median Sold Price Compared To Nearby Cities
Macomb Township | $408K | $430K | +5.4% |
Macomb | $407.9K | $430.1K | +5.4% |
Sterling Heights | $280K | $294.4K | +5.1% |
Shelby Charter Township | $330.2K | $340.6K | +3.2% |
Utica | $452K | $462K | +2.2% |
Housing Supply in Shelby Charter Township, MI
How many homes are available in Shelby Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
214 | 259 | +21.0% |
Summary: The Shelby Charter Township real estate market had 259 homes for sale in May 2024, a 21.0% 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 | 52 | 63 | +21.2% |
3 Bedrooms | 68 | 89 | +30.9% |
4 Bedrooms | 80 | 95 | +18.8% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Shelby 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 21.2%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 81 | +50.0% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 81 homes were sold or pending in Shelby Charter Township in May 2024, up by 50.0% month-over-month. Of the 81 sold homes, 30% were sold under asking, 21% were sold at asking, and 49% were sold over asking.
Days on Market for Shelby Charter Township, MI
How long does it take to sell a home in Shelby Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 24 Days | +28.3% |
Summary: Homes in Shelby Charter Township had an average of 24 days on market in May 2024, up by 28.3% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 81 homes were sold in Shelby Charter Township; 80% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.