Is Burlington 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, Burlington Township has remained a Seller's Market.
Key Takeaway
Burlington Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burlington Township, MI
How much do homes in Burlington Township, MI cost?
Median Sold Price
$140,000
$96/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Burlington Township have sold for 36.3% less than they did a month ago.
Summary: The median home sold price in Burlington Township was $140,000 in May 2024, down 36.3% from last month, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $154.7K | $100K | -35.4% |
| 3 Bedrooms | $330K | $140K | -57.6% |
| 4 Bedrooms | - | $275K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Burlington Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 35.4%, 3 bedroom homes decreased by 57.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Burlington | $219.9K | $205K | -6.8% |
| Burlington Township | $219.9K | $140K | -36.3% |
Housing Supply in Burlington Township, MI
How many homes are available in Burlington Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Summary: The Burlington Township real estate market had 12 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Burlington Township 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 decreased by 50%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Burlington Township, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Burlington Township in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.
Days on Market for Burlington Township, MI
How long does it take to sell a home in Burlington Township, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 36 Days | -23.7% |
Summary: Homes in Burlington Township had an average of 36 days on market in May 2024, down by 23.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Burlington Township has remained consistent over time.
Summary: During May 2024, 5 homes were sold in Burlington Township; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
