Is Wayland 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, Wayland Township has remained a Seller's Market.
Housing Prices in Wayland Township, MI
How much do homes in Wayland Township, MI cost?
Median Sold Price
$315,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wayland Township was $315,000 in May 2024, up 8.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $160K | -28.9% |
2 Bedrooms | $240K | $275K | +14.6% |
3 Bedrooms | $287.7K | $309.7K | +7.6% |
4 Bedrooms | $305K | $360K | +18.0% |
5+ Bedrooms | $325K | $327.5K | +0.8% |
Summary: Wayland Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.9%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
Yankee Springs Township | $347K | $381.7K | +10.0% |
Wayland Township | $290K | $315K | +8.6% |
Wayland | $290K | $315K | +8.6% |
Leighton Township | $324.9K | $352.5K | +8.5% |
Shelbyville | $299.9K | $324.9K | +8.4% |
Housing Supply in Wayland Township, MI
How many homes are available in Wayland Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
47 | 43 | -8.5% |
Summary: The Wayland Township real estate market had 43 homes for sale in May 2024, a 8.5% 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 | 7 | +40.0% |
3 Bedrooms | 24 | 22 | -8.3% |
4 Bedrooms | 13 | 10 | -23.1% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Wayland Township 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 40%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 12 | -36.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Wayland Township in May 2024, down by 36.8% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Wayland Township, MI
How long does it take to sell a home in Wayland Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 20 Days | -26.5% |
Summary: Homes in Wayland Township had an average of 20 days on market in May 2024, down by 26.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Wayland Township; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.