$10,000 Closing Credit*
$1,149,000
3,823 SqFt
4 Beds
•4 Full Baths
Michelle R Klump, Listing Office: KW Showcase Realty
Is Bingham Farms, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Bingham Farms was a Buyer's Market.
Key Takeaway
Bingham Farms is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bingham Farms, MI
How much do homes in Bingham Farms, MI cost?
Median Sold Price
$491,500
$179/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$55,000(+12.6%)
Key Takeaway
Homes in Bingham Farms have sold for 12.6% more than they did a month ago.
Summary: The median home sold price in Bingham Farms was $491,500 in November 2024, up 12.6% from last month, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $436.5K | $583K | +33.6% |
| 4 Bedrooms | - | $400K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Bingham Farms housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 33.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Franklin | $697.5K | $955K | +36.9% |
| Bingham Farms | $436.5K | $491.5K | +12.6% |
Housing Supply in Bingham Farms, MI
How many homes are available in Bingham Farms, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Summary: The Bingham Farms real estate market had 9 homes for sale in November 2024, a 12.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bingham Farms housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Bingham Farms, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Bingham Farms in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Bingham Farms, MI
How long does it take to sell a home in Bingham Farms, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 58 Days | 43 Days | -25.9% |
Summary: Homes in Bingham Farms had an average of 43 days on market in Nov 2024, down by 25.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bingham Farms are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Bingham Farms; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
