Is Rutland Charter 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, Rutland Charter Township has remained a Seller's Market.
Key Takeaway
Rutland Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rutland Charter Township, MI
How much do homes in Rutland Charter Township, MI cost?
Median Sold Price
$306,500
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rutland Charter Township have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Rutland Charter Township was $306,500 in May 2024, up 7.2% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $153.2K | $240K | +56.7% |
| 3 Bedrooms | $250K | $315K | +26.0% |
| 4 Bedrooms | $347K | $249K | -28.2% |
| 5+ Bedrooms | $300K | $830K | +176.7% |
Summary: Rutland Charter 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 increased by 56.7%, 3 bedroom homes increased by 26%, 4 bedroom homes decreased by 28.2%, and 5+ bedroom homes increased by 176.7%.
Median Sold Price Compared To Nearby Cities
| Rutland Charter Township | $286K | $306.5K | +7.2% |
| Hastings Charter Township | $226K | $240K | +6.2% |
| Hastings | $228K | $240K | +5.3% |
| Irving Township | $315K | $301.5K | -4.3% |
Housing Supply in Rutland Charter Township, MI
How many homes are available in Rutland Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Summary: The Rutland Charter Township real estate market had 16 homes for sale in May 2024, a 23.1% 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 | 1 | -50.0% |
| 3 Bedrooms | 3 | 7 | +133.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Rutland Charter 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 decreased by 50%, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Rutland Charter Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Rutland Charter Township in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Rutland Charter Township, MI
How long does it take to sell a home in Rutland Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 63 Days | +467.2% |
Summary: Homes in Rutland Charter Township had an average of 63 days on market in May 2024, up by 467.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rutland Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Rutland Charter Township; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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