$1,424 Closing Credit*
$119,900
1,075 SqFt
3 Beds
•1 Full Bath
Rashad Elabed, Listing Office: Downtown Realty
Is Hamtramck, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Hamtramck was a Seller's Market.
Key Takeaway
Hamtramck is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hamtramck, MI
How much do homes in Hamtramck, MI cost?
Median Sold Price
$169,500
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,600(+13.1%)
Key Takeaway
Homes in Hamtramck have sold for 13.1% more than they did a year ago.
Summary: The median home sold price in Hamtramck was $169,500 in October 2024, up 13.1% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $90K | N/A |
| 2 Bedrooms | $99K | $115K | +16.2% |
| 3 Bedrooms | $143K | $160K | +11.8% |
| 4 Bedrooms | $165K | $177.5K | +7.6% |
| 5+ Bedrooms | $215.7K | $215K | -0.3% |
Summary: Hamtramck 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 16.2%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Hamtramck | $149.9K | $169.5K | +13.1% |
| Detroit | $79.7K | $85K | +6.6% |
Housing Supply in Hamtramck, MI
How many homes are available in Hamtramck, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 45 | +12.5% |
Summary: The Hamtramck real estate market had 45 homes for sale in October 2024, a 12.5% 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 | 6 | 10 | +66.7% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Hamtramck 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 66.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hamtramck, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Hamtramck in October 2024, down by 36.4% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Hamtramck, MI
How long does it take to sell a home in Hamtramck, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 19 Days | -45.1% |
Summary: Homes in Hamtramck had an average of 19 days on market in Oct 2024, down by 45.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hamtramck are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Hamtramck; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.