Is Wixom, 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, Wixom has remained a Seller's Market.
Key Takeaway
Wixom is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wixom, MI
How much do homes in Wixom, MI cost?
Median Sold Price
$367,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wixom have sold for 11% more than they did a year ago.
Summary: The median home sold price in Wixom was $367,000 in May 2024, up 11% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $213K | N/A |
| 2 Bedrooms | $238K | $232.5K | -2.3% |
| 3 Bedrooms | $311K | $341K | +9.6% |
| 4 Bedrooms | $427.5K | $501.8K | +17.4% |
| 5+ Bedrooms | $395K | $424.9K | +7.6% |
Summary: Wixom 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 decreased by 2.3%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Commerce Township | $410K | $461.5K | +12.6% |
| Wixom | $330.5K | $367K | +11.0% |
| Commerce Charter Township | $350K | $370K | +5.7% |
| Novi | $435.1K | $439.4K | +1.0% |
Housing Supply in Wixom, MI
How many homes are available in Wixom, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 40 | -11.1% |
Summary: The Wixom real estate market had 40 homes for sale in May 2024, a 11.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 16 | 10 | -37.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Wixom 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 increased by 11.1%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wixom, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Wixom in May 2024, down by 33.3% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Wixom, MI
How long does it take to sell a home in Wixom, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 32 Days | -14.9% |
Summary: Homes in Wixom had an average of 32 days on market in May 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wixom are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Wixom; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.