Is Van Buren 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, Van Buren Charter Township has remained a Seller's Market.
Key Takeaway
Van Buren Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Van Buren Charter Township, MI
How much do homes in Van Buren Charter Township, MI cost?
Median Sold Price
$268,025
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Van Buren Charter Township have sold for 10.5% less than they did a year ago.
Summary: The median home sold price in Van Buren Charter Township was $268,025 in May 2024, down 10.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $410K | N/A |
| 2 Bedrooms | $150K | $210K | +40.0% |
| 3 Bedrooms | $277.4K | $268.5K | -3.2% |
| 4 Bedrooms | $367.5K | $382.5K | +4.1% |
| 5+ Bedrooms | $360K | $387.9K | +7.8% |
Summary: Van Buren 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 40%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
| Romulus | $179.5K | $192.7K | +7.4% |
| Canton Charter Township | $350K | $374.9K | +7.1% |
| Sumpter Township | $276.9K | $279.9K | +1.1% |
| Belleville | $265K | $253K | -4.5% |
| Van Buren Charter Township | $299.3K | $268K | -10.5% |
Housing Supply in Van Buren Charter Township, MI
How many homes are available in Van Buren Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 64 | +6.7% |
Summary: The Van Buren Charter Township real estate market had 64 homes for sale in May 2024, a 6.7% 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 | 14 | 7 | -50.0% |
| 3 Bedrooms | 19 | 26 | +36.8% |
| 4 Bedrooms | 25 | 29 | +16.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Van Buren 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 decreased by 50%, 3 bedroom homes increased by 36.8%, 4 bedroom homes increased by 16%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Van Buren Charter Township, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Van Buren Charter Township in May 2024, down by 13.0% month-over-month. Of the 20 sold homes, 35% were sold under asking, 25% were sold at asking, and 40% were sold over asking.
Days on Market for Van Buren Charter Township, MI
How long does it take to sell a home in Van Buren Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 47 Days | 27 Days | -40.6% |
Summary: Homes in Van Buren Charter Township had an average of 27 days on market in May 2024, down by 40.6% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Van Buren Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Van Buren Charter Township; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.