Is Wayne 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, Wayne Township has remained a Seller's Market.
Housing Prices in Wayne Township, MI
How much do homes in Wayne Township, MI cost?
Median Sold Price
$165,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wayne Township was $165,000 in May 2024, up 10% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $115.4K | $130K | +12.6% |
3 Bedrooms | $153K | $165K | +7.8% |
4 Bedrooms | $239K | $237K | -0.8% |
5+ Bedrooms | $225K | $265K | +17.8% |
Summary: Wayne 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 12.6%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 17.8%.
Median Sold Price Compared To Nearby Cities
Decatur Township | $150K | $179.9K | +19.9% |
Wayne Township | $150K | $165K | +10.0% |
Dowagiac | $169.7K | $180K | +6.0% |
Hamilton Township | $335K | $335K | 0.0% |
Housing Supply in Wayne Township, MI
How many homes are available in Wayne Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 50 | 0.0% |
Summary: The Wayne Township real estate market had 50 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 9 | +28.6% |
3 Bedrooms | 29 | 25 | -13.8% |
4 Bedrooms | 13 | 15 | +15.4% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Wayne 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 28.6%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 11 | -38.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Wayne Township in May 2024, down by 38.9% month-over-month. Of the 11 sold homes, 45% were sold under asking, 0% were sold at asking, and 55% were sold over asking.
Days on Market for Wayne Township, MI
How long does it take to sell a home in Wayne Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 23 Days | -19.7% |
Summary: Homes in Wayne Township had an average of 23 days on market in May 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Wayne Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.