Is Hamilton, 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, Hamilton has remained a Seller's Market.
Key Takeaway
Hamilton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hamilton, MI
How much do homes in Hamilton, MI cost?
Median Sold Price
$337,500
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hamilton have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in Hamilton was $337,500 in May 2024, down 1.5% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | - | N/A |
| 2 Bedrooms | $301.2K | $287.4K | -4.6% |
| 3 Bedrooms | $305K | $312K | +2.3% |
| 4 Bedrooms | $374.3K | $415K | +10.9% |
| 5+ Bedrooms | $385K | $536.1K | +39.3% |
Summary: Hamilton 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 4.6%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 39.3%.
Median Sold Price Compared To Nearby Cities
| Heath Township | $347K | $350K | +0.9% |
| Hamilton | $342.5K | $337.5K | -1.5% |
| Manlius Township | $345K | $327.4K | -5.1% |
Housing Supply in Hamilton, MI
How many homes are available in Hamilton, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The Hamilton real estate market had 20 homes for sale in May 2024, a 4.8% decrease 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 | 5 | 1 | -80.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Hamilton 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 80%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hamilton, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Hamilton in May 2024, down by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Hamilton, MI
How long does it take to sell a home in Hamilton, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 116 Days | 28 Days | -75.3% |
Summary: Homes in Hamilton had an average of 28 days on market in May 2024, down by 75.3% compared to last year.
Breakdown of Home Sale Times
4 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 Hamilton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Hamilton; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
