$195,000
13.80 Acres
Land
Noah Higa, Listing Office: Howard Hanna Real Estate
Is Milan Township, 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, Milan Township was a Seller's Market.
Key Takeaway
Milan Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Milan Township, MI
How much do homes in Milan Township, MI cost?
Median Sold Price
$284,900
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,525(+4.2%)
Key Takeaway
Homes in Milan Township have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Milan Township was $284,900 in November 2024, up 4.2% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | - | N/A |
| 2 Bedrooms | $188K | $230K | +22.3% |
| 3 Bedrooms | $263.2K | $283.7K | +7.8% |
| 4 Bedrooms | $335.5K | $349.9K | +4.3% |
| 5+ Bedrooms | $405K | $381.5K | -5.8% |
Summary: Milan Township 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 22.3%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Milan | $273.3K | $285K | +4.3% |
| Milan Township | $273.3K | $284.9K | +4.2% |
Housing Supply in Milan Township, MI
How many homes are available in Milan Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 56 | +14.3% |
Summary: The Milan Township real estate market had 56 homes for sale in November 2024, a 14.3% 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 | 14 | 12 | -14.3% |
| 3 Bedrooms | 21 | 28 | +33.3% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Milan Township 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 decreased by 14.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milan Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Milan Township in November 2024, down by 40.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Milan Township, MI
How long does it take to sell a home in Milan Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 38 Days | -22.1% |
Summary: Homes in Milan Township had an average of 38 days on market in Nov 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Milan Township has remained consistent over time.
Summary: During November 2024, 6 homes were sold in Milan Township; 33% of homes were sold within 30 days, 67% 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.