$179,900
10.00 Acres
Land
Matthew Beaudry, Listing Office: Wentworth Real Estate Group
Is Homestead Township, 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, Homestead Township has remained a Seller's Market.
Key Takeaway
Homestead Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homestead Township, MI
How much do homes in Homestead Township, MI cost?
Median Sold Price
$284,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,000(-3.1%)
Key Takeaway
Homes in Homestead Township have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Homestead Township was $284,500 in October 2024, down 3.1% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | - | N/A |
| 2 Bedrooms | $230K | $227K | -1.3% |
| 3 Bedrooms | $229.2K | $295K | +28.7% |
| 4 Bedrooms | $315K | $354K | +12.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Homestead Township 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 decreased by 1.3%, 3 bedroom homes increased by 28.7%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Honor | $295K | $379.9K | +28.8% |
| Homestead Township | $293.5K | $284.5K | -3.1% |
| Inland Township | $357K | $345K | -3.4% |
Housing Supply in Homestead Township, MI
How many homes are available in Homestead Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Homestead Township real estate market had 15 homes for sale in October 2024, a 6.3% decrease 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Homestead Township 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 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Homestead Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Homestead Township in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Homestead Township, MI
How long does it take to sell a home in Homestead Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 89 Days | +124.4% |
Summary: Homes in Homestead Township had an average of 89 days on market in Oct 2024, up by 124.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Homestead Township has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Homestead Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
