Is Warren 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, Warren Township has remained a Seller's Market.
Housing Prices in Warren Township, MI
How much do homes in Warren Township, MI cost?
Median Sold Price
$185,055
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Warren Township was $185,055 in May 2024, up 8.7% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $66.5K | $85K | +27.8% |
2 Bedrooms | $105K | $117K | +11.4% |
3 Bedrooms | $185.8K | $211.5K | +13.8% |
4 Bedrooms | $230K | $245K | +6.5% |
5+ Bedrooms | $244.5K | $242K | -1.0% |
Summary: Warren Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.8%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
Coleman | $156.2K | $176.4K | +12.9% |
Warren Township | $170.2K | $185K | +8.7% |
Edenville Township | $295K | $258.5K | -12.4% |
Beaverton Township | $186K | $159K | -14.5% |
Housing Supply in Warren Township, MI
How many homes are available in Warren Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
394 | 465 | +18.0% |
Summary: The Warren Township real estate market had 465 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 7 | -22.2% |
2 Bedrooms | 81 | 103 | +27.2% |
3 Bedrooms | 251 | 291 | +15.9% |
4 Bedrooms | 50 | 55 | +10.0% |
5+ Bedrooms | 3 | 9 | +200.0% |
Summary: The Warren Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 27.2%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
128 | 155 | +21.1% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
91 Homes Were Sold
Over Asking
Summary: A total of 155 homes were sold or pending in Warren Township in May 2024, up by 21.1% month-over-month. Of the 155 sold homes, 29% were sold under asking, 12% were sold at asking, and 59% were sold over asking.
Days on Market for Warren Township, MI
How long does it take to sell a home in Warren Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 14 Days | -13.6% |
Summary: Homes in Warren Township had an average of 14 days on market in May 2024, down by 13.6% compared to last year.
Breakdown of Home Sale Times
132 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 155 homes were sold in Warren Township; 85% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.