Is Five Points, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Five Points is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, Five Points has remained a Seller's Market.

Key Takeaway

Five Points is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Five Points, MI

How much do homes in Five Points, MI cost?

Median Sold Price

$90,000

$79/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$4,000(-4.3%)

Key Takeaway

Homes in Five Points have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in Five Points was $90,000 in December 2024, down 4.3% from last year, and the median price per square foot was $79.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $72K$42K
-41.7%
3 $102K$94K
-7.8%
4 -$90K
N/A
5+ $30K-
N/A

Summary: Five Points housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 41.7%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Upper West
+10.4%
Old Redford Center
+3.9%
Berg-Lahser
+2.7%
Five Points
-4.3%
Old Redford
-9.5%

Housing Supply in Five Points, MI

How many homes are available in Five Points, MI?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
108-20.0%

Summary: The Five Points real estate market had 8 homes for sale in December 2024, a 20.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 01
+100.0%
2 20
-100.0%
3 75
-28.6%
4 12
+100.0%
5+ 00
0.0%

Summary: The Five Points housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
330.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Five Points, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Five Points in December 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Five Points, MI

How long does it take to sell a home in Five Points, MI?

Average Sale Time

Dec 2023Dec 2024CHANGE
27 Days27 Days0.0%

Summary: Homes in Five Points had an average of 27 days on market in Dec 2024, the same as last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Five Points has remained consistent over time.

Summary: During December 2024, 3 homes were sold in Five Points; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Five Points, MI

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