$582 Closing Credit*
$49,000
1,144 SqFt
3 Beds
•1 Full Bath
Kristal Covington, Listing Office: Detop LLC
Is Highland Park, 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, Highland Park was a Seller's Market.
Key Takeaway
Highland Park 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 Highland Park, MI
How much do homes in Highland Park, MI cost?
Median Sold Price
$57,750
$48/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,550(+27.8%)
Key Takeaway
Homes in Highland Park have sold for 27.8% more than they did a year ago.
Summary: The median home sold price in Highland Park was $57,750 in October 2024, up 27.8% from last year, and the median price per square foot was $48.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $22K | - | N/A |
| 2 Bedrooms | $47.5K | $55K | +15.8% |
| 3 Bedrooms | $43K | $48K | +11.6% |
| 4 Bedrooms | $60K | $60K | 0% |
| 5+ Bedrooms | $233.7K | $132K | -43.5% |
Summary: Highland Park 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 15.8%, 3 bedroom homes increased by 11.6%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 43.5%.
Housing Supply in Highland Park, MI
How many homes are available in Highland Park, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 73 | +5.8% |
Summary: The Highland Park real estate market had 73 homes for sale in October 2024, a 5.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 40 | 44 | +10.0% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Highland Park 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 decreased by 14.3%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland Park, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Highland Park in October 2024, down by 15.4% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Highland Park, MI
How long does it take to sell a home in Highland Park, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 135 Days | 40 Days | -70.4% |
Summary: Homes in Highland Park had an average of 40 days on market in Oct 2024, down by 70.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Highland Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Highland Park; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
