$5,344 Closing Credit*
$449,999
3,586 SqFt
5 Beds
•3 Full Baths, 1 Partial
Max A Billinghurst, Listing Office: Keller Williams Realty Lansing-East
Is Bingham Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Bingham Township was a Seller's Market.
Key Takeaway
Bingham Township 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 Township, MI
How much do homes in Bingham Township, MI cost?
Median Sold Price
$392,450
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,450(+7.5%)
Key Takeaway
Homes in Bingham Township have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Bingham Township was $392,450 in October 2024, up 7.5% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $242.4K | $375K | +54.7% |
| 3 Bedrooms | $365K | $360K | -1.4% |
| 4 Bedrooms | $382.5K | $410K | +7.2% |
| 5+ Bedrooms | - | $767.5K | N/A |
Summary: Bingham Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.7%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Greenbush Township | $225K | $263K | +16.9% |
| Ovid Township | $180K | $200.1K | +11.2% |
| Bingham Township | $365K | $392.4K | +7.5% |
| Saint Johns | $200K | $197.5K | -1.3% |
Housing Supply in Bingham Township, MI
How many homes are available in Bingham Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 18 | +28.6% |
Summary: The Bingham Township real estate market had 18 homes for sale in October 2024, a 28.6% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Bingham Township 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Bingham Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Bingham Township in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Bingham Township, MI
How long does it take to sell a home in Bingham Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 192 Days | +366.1% |
Summary: Homes in Bingham Township had an average of 192 days on market in Oct 2024, up by 366.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Bingham Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Bingham Township; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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