Is Ypsilanti, 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, Ypsilanti has remained a Seller's Market.
Key Takeaway
Ypsilanti is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ypsilanti, MI
How much do homes in Ypsilanti, MI cost?
Median Sold Price
$274,778
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ypsilanti have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Ypsilanti was $274,778 in May 2024, up 1.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $108K | $118K | +9.3% |
| 2 Bedrooms | $194.9K | $200K | +2.6% |
| 3 Bedrooms | $259.3K | $257.2K | -0.8% |
| 4 Bedrooms | $360K | $370K | +2.8% |
| 5+ Bedrooms | $346K | $383.3K | +10.8% |
Summary: Ypsilanti housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Cities
| Superior Charter Township | $323K | $363.4K | +12.5% |
| Ypsilanti Charter Township | $269.9K | $275K | +1.9% |
| Ypsilanti | $269.9K | $274.7K | +1.8% |
Housing Supply in Ypsilanti, MI
How many homes are available in Ypsilanti, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 226 | 248 | +9.7% |
Summary: The Ypsilanti real estate market had 248 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 | 49 | 51 | +4.1% |
| 3 Bedrooms | 117 | 121 | +3.4% |
| 4 Bedrooms | 49 | 65 | +32.7% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Ypsilanti 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 4.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 32.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 87 | 0.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ypsilanti, you could pay more than the asking price. 58.6% of homes here sold above asking price last month.
Summary: A total of 87 homes were sold or pending in Ypsilanti in May 2024, the same as the previous month. Of the 87 sold homes, 25% were sold under asking, 16% were sold at asking, and 59% were sold over asking.
Days on Market for Ypsilanti, MI
How long does it take to sell a home in Ypsilanti, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 16 Days | -38.9% |
Summary: Homes in Ypsilanti had an average of 16 days on market in May 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ypsilanti are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 87 homes were sold in Ypsilanti; 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.
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. 
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.