Is Northville 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, Northville Township has remained a Seller's Market.
Housing Prices in Northville Township, MI
How much do homes in Northville Township, MI cost?
Median Sold Price
$499,908
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northville Township was $499,908 in May 2024, down 2.4% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135.5K | $156.2K | +15.3% |
2 Bedrooms | $279.9K | $281.5K | +0.6% |
3 Bedrooms | $431K | $458K | +6.3% |
4 Bedrooms | $674.9K | $675.5K | 0.1% |
5+ Bedrooms | $930K | $935K | 0.5% |
Summary: Northville Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Livonia | $264.7K | $289.9K | +9.5% |
Plymouth Charter Township | $422.7K | $430K | +1.7% |
Novi | $435.1K | $439.4K | +1.0% |
Northville Township | $512.4K | $499.9K | -2.4% |
Northville | $518.4K | $504.1K | -2.7% |
Housing Supply in Northville Township, MI
How many homes are available in Northville Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
156 | 192 | +23.1% |
Summary: The Northville Township real estate market had 192 homes for sale in May 2024, a 23.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 39 | 35 | -10.3% |
3 Bedrooms | 51 | 60 | +17.6% |
4 Bedrooms | 49 | 77 | +57.1% |
5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Northville Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 64 | +39.1% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 64 homes were sold or pending in Northville Township in May 2024, up by 39.1% month-over-month. Of the 64 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Northville Township, MI
How long does it take to sell a home in Northville Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 33 Days | +80.3% |
Summary: Homes in Northville Township had an average of 33 days on market in May 2024, up by 80.3% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 64 homes were sold in Northville Township; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.