$2,730 Closing Credit*
$229,900
1,228 SqFt
1 Bed
•1 Full Bath
Dean Lundberg, Listing Office: Preferred, Realtors Ltd
Is Lower Woodward, 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, Lower Woodward was a Neutral Market.
Key Takeaway
Lower Woodward is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lower Woodward, MI
How much do homes in Lower Woodward, MI cost?
Median Sold Price
$380,000
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$21,000(-5.2%)
Key Takeaway
Homes in Lower Woodward have sold for 5.2% less than they did a year ago.
Summary: The median home sold price in Lower Woodward was $380,000 in October 2024, down 5.2% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $279.2K | $277.5K | -0.6% |
| 2 Bedrooms | $412.5K | $405K | -1.8% |
| 3 Bedrooms | $765K | $617.5K | -19.3% |
| 4 Bedrooms | $401K | $650K | +62.1% |
| 5+ Bedrooms | $525K | $660K | +25.7% |
Summary: Lower Woodward housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 19.3%, 4 bedroom homes increased by 62.1%, and 5+ bedroom homes increased by 25.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Cass Corridor | $400.5K | $390K | -2.6% |
| Lower Woodward | $401K | $380K | -5.2% |
Housing Supply in Lower Woodward, MI
How many homes are available in Lower Woodward, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 54 | 68 | +25.9% |
Summary: The Lower Woodward real estate market had 68 homes for sale in October 2024, a 25.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 19 | +5.6% |
| 2 Bedrooms | 17 | 24 | +41.2% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Lower Woodward housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 41.2%, 3 bedroom homes increased by 45.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Woodward, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Lower Woodward in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lower Woodward, MI
How long does it take to sell a home in Lower Woodward, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 51 Days | 82 Days | +60.8% |
Summary: Homes in Lower Woodward had an average of 82 days on market in Oct 2024, up by 60.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lower Woodward are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 6 homes were sold in Lower Woodward; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
