Is Flat Rock, 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, Flat Rock has remained a Seller's Market.
Housing Prices in Flat Rock, MI
How much do homes in Flat Rock, MI cost?
Median Sold Price
$312,900
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Flat Rock was $312,900 in May 2024, up 2.4% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $239.9K | $255K | +6.3% |
3 Bedrooms | $269.9K | $287.9K | +6.6% |
4 Bedrooms | $382K | $370K | -3.1% |
5+ Bedrooms | $343.2K | $355K | +3.4% |
Summary: Flat Rock 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 6.3%, 3 bedroom homes increased by 6.6%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
Brownstown Charter Township | $269.2K | $303K | +12.5% |
Rockwood | $275K | $295K | +7.3% |
South Rockwood | $265K | $282.5K | +6.6% |
Berlin Charter Township | $279.9K | $292K | +4.3% |
Flat Rock | $305.5K | $312.9K | +2.4% |
Housing Supply in Flat Rock, MI
How many homes are available in Flat Rock, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 53 | -10.2% |
Summary: The Flat Rock real estate market had 53 homes for sale in May 2024, a 10.2% decrease 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 | 13 | 11 | -15.4% |
3 Bedrooms | 35 | 32 | -8.6% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Flat Rock 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 15.4%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 11 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Flat Rock in May 2024, down by 50.0% month-over-month. Of the 11 sold homes, 27% were sold under asking, 9% were sold at asking, and 64% were sold over asking.
Days on Market for Flat Rock, MI
How long does it take to sell a home in Flat Rock, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 9 Days | -47.4% |
Summary: Homes in Flat Rock had an average of 9 days on market in May 2024, down by 47.4% compared to last year.
Breakdown of Home Sale Times
11 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, 11 homes were sold in Flat Rock; 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.