$2,374 Closing Credit*
$199,900
1,400 SqFt
4 Beds
•2 Full Baths
Sheikh Ali, Listing Office: Amin Realty
Is Hamtramck, 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, Hamtramck has remained a Seller's Market.
Key Takeaway
Hamtramck is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hamtramck, MI
How much do homes in Hamtramck, MI cost?
Median Sold Price
$165,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+10.0%)
Key Takeaway
Homes in Hamtramck have sold for 10% more than they did a year ago.
Summary: The median home sold price in Hamtramck was $165,000 in November 2024, up 10% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $90K | N/A |
| 2 Bedrooms | $98K | $110K | +12.2% |
| 3 Bedrooms | $137.9K | $160K | +15.9% |
| 4 Bedrooms | $175K | $177.5K | +1.4% |
| 5+ Bedrooms | $215.7K | $216.4K | 0.3% |
Summary: Hamtramck 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 12.2%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Hamtramck | $150K | $165K | +10.0% |
| Detroit | $78.3K | $85K | +8.5% |
Housing Supply in Hamtramck, MI
How many homes are available in Hamtramck, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 44 | +7.3% |
Summary: The Hamtramck real estate market had 44 homes for sale in November 2024, a 7.3% increase 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 | 9 | 11 | +22.2% |
| 3 Bedrooms | 18 | 21 | +16.7% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Hamtramck 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 increased by 22.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hamtramck, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Hamtramck in November 2024, the same as the previous month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 40 Days | 9 Days | -76.3% |
Summary: Homes in Hamtramck had an average of 9 days on market in Nov 2024, down by 76.3% compared to last year.
Breakdown of Home Sale Times
7 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 November 2024, 8 homes were sold in Hamtramck; 88% of homes were sold within 30 days, 13% 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.