Is Sheridan 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, Sheridan Township has remained a Seller's Market.
Key Takeaway
Sheridan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sheridan Township, MI
How much do homes in Sheridan Township, MI cost?
Median Sold Price
$180,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sheridan Township have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Sheridan Township was $180,000 in May 2024, up 2.9% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149K | $114.9K | -22.9% |
| 2 Bedrooms | $148.9K | $150.7K | +1.2% |
| 3 Bedrooms | $180K | $211.2K | +17.4% |
| 4 Bedrooms | $190K | $235K | +23.7% |
| 5+ Bedrooms | $160.7K | $311K | +93.5% |
Summary: Sheridan Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.9%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 93.5%.
Median Sold Price Compared To Nearby Cities
| Albion | $123.6K | $135.2K | +9.4% |
| Sheridan Township | $175K | $180K | +2.9% |
| Parma Township | $240K | $215K | -10.4% |
Housing Supply in Sheridan Township, MI
How many homes are available in Sheridan Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 17 | -15.0% |
Summary: The Sheridan Township real estate market had 17 homes for sale in May 2024, a 15.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sheridan Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheridan Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Sheridan Township in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Sheridan Township, MI
How long does it take to sell a home in Sheridan Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 39 Days | +174.9% |
Summary: Homes in Sheridan Township had an average of 39 days on market in May 2024, up by 174.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sheridan Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Sheridan Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.