Is Ypsilanti, 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, Ypsilanti has remained a Seller's Market.
Housing Prices in Ypsilanti, MI
How much do homes in Ypsilanti, MI cost?
Median Sold Price
$274,778
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ypsilanti was $274,778 in May 2024, up 1.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108K | $118K | +9.3% |
2 Bedrooms | $194.9K | $200K | +2.6% |
3 Bedrooms | $259.3K | $257.2K | -0.8% |
4 Bedrooms | $360K | $370K | +2.8% |
5+ Bedrooms | $346K | $383.3K | +10.8% |
Summary: Ypsilanti housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Cities
Superior Charter Township | $323K | $363.4K | +12.5% |
Ypsilanti Charter Township | $269.9K | $275K | +1.9% |
Ypsilanti | $269.9K | $274.7K | +1.8% |
Housing Supply in Ypsilanti, MI
How many homes are available in Ypsilanti, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
226 | 248 | +9.7% |
Summary: The Ypsilanti real estate market had 248 homes for sale in May 2024, a 9.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 49 | 51 | +4.1% |
3 Bedrooms | 117 | 121 | +3.4% |
4 Bedrooms | 49 | 65 | +32.7% |
5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Ypsilanti 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 4.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 32.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
87 | 87 | 0.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 87 homes were sold or pending in Ypsilanti in May 2024, the same as the previous month. Of the 87 sold homes, 25% were sold under asking, 16% were sold at asking, and 59% were sold over asking.
Days on Market for Ypsilanti, MI
How long does it take to sell a home in Ypsilanti, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 16 Days | -38.9% |
Summary: Homes in Ypsilanti had an average of 16 days on market in May 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 87 homes were sold in Ypsilanti; 85% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.