Is Washtenaw County, 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, Washtenaw County has remained a Seller's Market.
Key Takeaway
Washtenaw County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Washtenaw County, MI
How much do homes in Washtenaw County, MI cost?
Median Sold Price
$393,829
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Washtenaw County have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Washtenaw County was $393,829 in May 2024, up 6.8% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223.7K | $238.5K | +6.6% |
| 2 Bedrooms | $255.8K | $273.9K | +7.1% |
| 3 Bedrooms | $340K | $369.7K | +8.7% |
| 4 Bedrooms | $494.8K | $507.9K | +2.7% |
| 5+ Bedrooms | $675K | $675.5K | 0.1% |
Summary: Washtenaw County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 0.1%.
Median Sold Price Compared To Nearby Counties
| Washtenaw County | $368.9K | $393.8K | +6.8% |
| Livingston County | $350K | $365.2K | +4.4% |
| Monroe County | $229.9K | $240K | +4.4% |
| Wayne County | $179.1K | $184.9K | +3.2% |
| Oakland County | $324.8K | $334.7K | +3.0% |
Housing Supply in Washtenaw County, MI
How many homes are available in Washtenaw County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 987 | 1,103 | +11.8% |
Summary: The Washtenaw County real estate market had 1,103 homes for sale in May 2024, a 11.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 14 | -30.0% |
| 2 Bedrooms | 182 | 194 | +6.6% |
| 3 Bedrooms | 418 | 438 | +4.8% |
| 4 Bedrooms | 289 | 352 | +21.8% |
| 5+ Bedrooms | 78 | 105 | +34.6% |
Summary: The Washtenaw County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes increased by 34.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 303 | 333 | +9.9% |
Asking Price vs. Sold Price
84 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
191 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washtenaw County, you could pay more than the asking price. 57.4% of homes here sold above asking price last month.
Summary: A total of 333 homes were sold or pending in Washtenaw County in May 2024, up by 9.9% month-over-month. Of the 333 sold homes, 25% were sold under asking, 17% were sold at asking, and 57% were sold over asking.
Days on Market for Washtenaw County, MI
How long does it take to sell a home in Washtenaw County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 24 Days | -29.7% |
Summary: Homes in Washtenaw County had an average of 24 days on market in May 2024, down by 29.7% compared to last year.
Breakdown of Home Sale Times
262 Homes Were Sold
Under 30 Days
50 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washtenaw County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 333 homes were sold in Washtenaw County; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% 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.