$5,344 Closing Credit*
$450,000
2,272 SqFt
3 Beds
•2 Full Baths, 1 Partial
Christina Gennari, Listing Office: KW Domain
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
Since last month, Bingham Farms has remained a Neutral Market.
Key Takeaway
Bingham Farms is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Bingham Farms, MI
How much do homes in Bingham Farms, MI cost?
Median Sold Price
$436,500
$228/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$31,500(+7.8%)
Key Takeaway
Homes in Bingham Farms have sold for 7.8% more than they did a month ago.
Summary: The median home sold price in Bingham Farms was $436,500 in October 2024, up 7.8% from last month, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $405K | - | N/A |
| 3 Bedrooms | - | $436.5K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Bingham Farms housing prices by bedroom type for October 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 did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bingham Farms | $405K | $436.5K | +7.8% |
| Franklin | $738.2K | $685K | -7.2% |
Housing Supply in Bingham Farms, MI
How many homes are available in Bingham Farms, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Summary: The Bingham Farms real estate market had 7 homes for sale in October 2024, a 16.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bingham Farms housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bingham Farms, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Bingham Farms in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 58 Days | +286.7% |
Summary: Homes in Bingham Farms had an average of 58 days on market in Oct 2024, up by 286.7% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bingham Farms has remained consistent over time.
Summary: During October 2024, 1 homes were sold in Bingham Farms; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
