$5,344 Closing Credit*
$450,000
1,800 SqFt
2 Beds
•2 Full Baths, 1 Partial
Megan Ford, Listing Office: @properties Christies Intl RE Grosse Pointe
Is Lower Woodward, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lower Woodward was a Seller's Market.
Key Takeaway
Lower Woodward 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 Lower Woodward, MI
How much do homes in Lower Woodward, MI cost?
Median Sold Price
$400,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$4,500(-1.1%)
Key Takeaway
Homes in Lower Woodward have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Lower Woodward was $400,000 in November 2024, down 1.1% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | $277.5K | -1.6% |
| 2 Bedrooms | $445K | $421K | -5.4% |
| 3 Bedrooms | $815K | $617.5K | -24.2% |
| 4 Bedrooms | $401K | $650K | +62.1% |
| 5+ Bedrooms | $692.5K | $660K | -4.7% |
Summary: Lower Woodward housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes decreased by 24.2%, 4 bedroom homes increased by 62.1%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Cass Corridor | $401K | $400K | -0.2% |
| Lower Woodward | $404.5K | $400K | -1.1% |
Housing Supply in Lower Woodward, MI
How many homes are available in Lower Woodward, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 64 | -4.5% |
Summary: The Lower Woodward real estate market had 64 homes for sale in November 2024, a 4.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 18 | +5.9% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Lower Woodward housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was 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. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Lower Woodward in November 2024, up by 42.9% month-over-month. Of the 10 sold homes, 90% were sold under asking, 10% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 88 Days | 66 Days | -25.3% |
Summary: Homes in Lower Woodward had an average of 66 days on market in Nov 2024, down by 25.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lower Woodward has remained consistent over time.
Summary: During November 2024, 10 homes were sold in Lower Woodward; 20% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
