$783 Closing Credit*
$65,900
1,456 SqFt
3 Beds
•2 Full Baths
Michael Procissi, Listing Office: Power House Group Realty
Is Flat Rock, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Flat Rock has remained a Seller's Market.
Key Takeaway
Flat Rock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Flat Rock, MI
How much do homes in Flat Rock, MI cost?
Median Sold Price
$300,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$21,700(-6.7%)
Key Takeaway
Homes in Flat Rock have sold for 6.7% less than they did a year ago.
Summary: The median home sold price in Flat Rock was $300,000 in October 2024, down 6.7% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $253.5K | $262.4K | +3.5% |
| 3 Bedrooms | $263.5K | $275K | +4.4% |
| 4 Bedrooms | $383K | $390K | +1.8% |
| 5+ Bedrooms | $341.5K | $330K | -3.4% |
Summary: Flat Rock 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 3.5%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Rockwood | $227K | $277.5K | +22.2% |
| Berlin Charter Township | $275K | $299.9K | +9.1% |
| Brownstown Charter Township | $277.5K | $300.5K | +8.3% |
| Flat Rock | $321.7K | $300K | -6.7% |
Housing Supply in Flat Rock, MI
How many homes are available in Flat Rock, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 62 | 65 | +4.8% |
Summary: The Flat Rock real estate market had 65 homes for sale in October 2024, a 4.8% 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 | 12 | 13 | +8.3% |
| 3 Bedrooms | 29 | 30 | +3.4% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Flat Rock 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 increased by 8.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 18 | -5.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Flat Rock, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Flat Rock in October 2024, down by 5.3% month-over-month. Of the 18 sold homes, 50% were sold under asking, 28% were sold at asking, and 22% were sold over asking.
Days on Market for Flat Rock, MI
How long does it take to sell a home in Flat Rock, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 23 Days | +99.8% |
Summary: Homes in Flat Rock had an average of 23 days on market in Oct 2024, up by 99.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Flat Rock are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in Flat Rock; 61% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
