Is Bruce 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, Bruce Township was a Buyer's Market.
Housing Prices in Bruce Township, MI
How much do homes in Bruce Township, MI cost?
Median Sold Price
$408,223
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bruce Township was $408,223 in May 2024, up 1.9% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $67.5K | $70K | +3.7% |
2 Bedrooms | $368.4K | $260K | -29.4% |
3 Bedrooms | $390.7K | $400K | +2.4% |
4 Bedrooms | $455K | $471K | +3.5% |
5+ Bedrooms | $487.5K | $677.5K | +39.0% |
Summary: Bruce Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes decreased by 29.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 39%.
Median Sold Price Compared To Nearby Cities
Romeo | $306K | $388.1K | +26.8% |
Armada Township | $325K | $360K | +10.8% |
Washington Township | $405K | $415K | +2.5% |
Bruce Township | $400.5K | $408.2K | +1.9% |
Washington | $429.5K | $425K | -1.1% |
Housing Supply in Bruce Township, MI
How many homes are available in Bruce Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 43 | +10.3% |
Summary: The Bruce Township real estate market had 43 homes for sale in May 2024, a 10.3% 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 | 2 | 3 | +50.0% |
3 Bedrooms | 20 | 19 | -5.0% |
4 Bedrooms | 12 | 14 | +16.7% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Bruce 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 50%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 9 | -10.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Bruce Township in May 2024, down by 10.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Bruce Township, MI
How long does it take to sell a home in Bruce Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
70 Days | 57 Days | -17.7% |
Summary: Homes in Bruce Township had an average of 57 days on market in May 2024, down by 17.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Bruce Township; 78% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.