Is Wayne, 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, Wayne has remained a Seller's Market.
Key Takeaway
Wayne is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wayne, MI
How much do homes in Wayne, MI cost?
Median Sold Price
$165,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wayne have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Wayne was $165,000 in May 2024, up 10.1% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $111K | $130K | +17.1% |
| 3 Bedrooms | $150K | $165K | +10.0% |
| 4 Bedrooms | $223K | $227K | +1.8% |
| 5+ Bedrooms | $225K | $260K | +15.6% |
Summary: Wayne 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 increased by 17.1%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 15.6%.
Housing Supply in Wayne, MI
How many homes are available in Wayne, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 42 | +2.4% |
Summary: The Wayne real estate market had 42 homes for sale in May 2024, a 2.4% increase 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 | 8 | +60.0% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wayne 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 60%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 10 | -37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayne, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Wayne in May 2024, down by 37.5% month-over-month. Of the 10 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Wayne, MI
How long does it take to sell a home in Wayne, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 16 Days | -21.8% |
Summary: Homes in Wayne had an average of 16 days on market in May 2024, down by 21.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wayne are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Wayne; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% 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.