$4,333 Closing Credit*
$364,900
1,915 SqFt
3 Beds
•2 Full Baths
Michelle Davis, Listing Office: RE/MAX Masters
Is Flat Rock, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$302,500
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,500(-0.8%)
Key Takeaway
Homes in Flat Rock have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Flat Rock was $302,500 in November 2024, down 0.8% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $246.5K | $265K | +7.5% |
| 3 Bedrooms | $257.5K | $277K | +7.6% |
| 4 Bedrooms | $370K | $397.5K | +7.4% |
| 5+ Bedrooms | $338.2K | $325K | -3.9% |
Summary: Flat Rock housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Rockwood | $245K | $285K | +16.3% |
| Berlin Charter Township | $277.4K | $300K | +8.1% |
| Brownstown Charter Township | $285K | $300K | +5.3% |
| Flat Rock | $305K | $302.5K | -0.8% |
Housing Supply in Flat Rock, MI
How many homes are available in Flat Rock, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 63 | 57 | -9.5% |
Summary: The Flat Rock real estate market had 57 homes for sale in November 2024, a 9.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 27 | 22 | -18.5% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Flat Rock housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 18.5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was 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. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Flat Rock in November 2024, down by 27.8% month-over-month. Of the 13 sold homes, 62% were sold under asking, 8% were sold at asking, and 31% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 43 Days | +159.0% |
Summary: Homes in Flat Rock had an average of 43 days on market in Nov 2024, up by 159% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 13 homes were sold in Flat Rock; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
