$10,000 Closing Credit*
$1,100,000
4,776 SqFt
4 Beds
•2 Full Baths, 1 Partial
Jennifer Gaston, Listing Office: REMAX Bayshore - Union St TC
Is Bingham Township, 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 Township has remained a Seller's Market.
Key Takeaway
Bingham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bingham Township, MI
How much do homes in Bingham Township, MI cost?
Median Sold Price
$667,500
$401/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$97,500(-12.7%)
Key Takeaway
Homes in Bingham Township have sold for 12.7% less than they did a month ago.
Summary: The median home sold price in Bingham Township was $667,500 in October 2024, down 12.7% from last month, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $850K | $975K | +14.7% |
| 3 Bedrooms | $680K | $360K | -47.1% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Bingham Township 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 increased by 14.7%, 3 bedroom homes decreased by 47.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Leelanau | $1.7M | $1.7M | -1.6% |
| Bingham Township | $765K | $667.5K | -12.7% |
| Cedar | $559.5K | $401.5K | -28.2% |
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 |
|---|---|---|
| 16 | 11 | -31.3% |
Summary: The Bingham Township real estate market had 11 homes for sale in October 2024, a 31.3% decrease 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 | 1 | -50.0% |
| 3 Bedrooms | 9 | 5 | -44.4% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
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 decreased by 50%, 3 bedroom homes decreased by 44.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 2 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bingham Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Bingham Township in October 2024, down by 66.7% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 Days | 50 Days | -11.9% |
Summary: Homes in Bingham Township had an average of 50 days on market in Oct 2024, down by 11.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were 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, 2 homes were sold in Bingham Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
