Is Highland 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, Highland Township has remained a Seller's Market.
Key Takeaway
Highland Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Highland Township, MI
How much do homes in Highland Township, MI cost?
Median Sold Price
$325,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Highland Township has remained the same since last year.
Summary: The median home sold price in Highland Township was $325,000 in May 2024, the same as last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $323K | $339.8K | +5.2% |
| 2 Bedrooms | $178.6K | $185K | +3.5% |
| 3 Bedrooms | $274K | $304.5K | +11.1% |
| 4 Bedrooms | $460K | $442K | -3.9% |
| 5+ Bedrooms | $428.5K | $569K | +32.8% |
Summary: Highland Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 32.8%.
Median Sold Price Compared To Nearby Cities
| Highland Township | $324.9K | $325K | 0.0% |
| Richland Township | $339.9K | $334.9K | -1.5% |
| Marion Township | $174K | $140.5K | -19.3% |
Housing Supply in Highland Township, MI
How many homes are available in Highland Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 68 | +9.7% |
Summary: The Highland Township real estate market had 68 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 | 8 | 8 | 0.0% |
| 3 Bedrooms | 29 | 27 | -6.9% |
| 4 Bedrooms | 19 | 22 | +15.8% |
| 5+ Bedrooms | 4 | 9 | +125.0% |
Summary: The Highland 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 remained the same, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 125%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland Township, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Highland Township in May 2024, down by 27.8% month-over-month. Of the 13 sold homes, 15% were sold under asking, 23% were sold at asking, and 62% were sold over asking.
Days on Market for Highland Township, MI
How long does it take to sell a home in Highland Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 20 Days | +112.8% |
Summary: Homes in Highland Township had an average of 20 days on market in May 2024, up by 112.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Highland Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Highland Township; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
