Is Wright Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Wright Township was a Neutral Market.
Housing Prices in Wright Township, MI
How much do homes in Wright Township, MI cost?
Median Sold Price
$290,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wright Township was $290,000 in May 2024, up 3.6% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $287.2K | N/A |
3 Bedrooms | $280K | $300K | +7.1% |
4 Bedrooms | $313K | $302.3K | -3.4% |
5+ Bedrooms | - | $317.5K | N/A |
Summary: Wright 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 did not change, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Alpine Township | $252K | $300K | +19.0% |
Tallmadge Charter Township | $360K | $412.5K | +14.6% |
Wright Township | $280K | $290K | +3.6% |
Marne | $355K | $311.7K | -12.2% |
Housing Supply in Wright Township, MI
How many homes are available in Wright Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 6 | +20.0% |
Summary: The Wright Township real estate market had 6 homes for sale in May 2024, a 20.0% 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 | 1 | 2 | +100.0% |
3 Bedrooms | 2 | 1 | -50.0% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wright 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 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Wright Township in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Wright Township, MI
How long does it take to sell a home in Wright Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 8 Days | +116.7% |
Summary: Homes in Wright Township had an average of 8 days on market in May 2024, up by 116.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Wright Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.