$5,641 Closing Credit*
$475,000
2,268 SqFt
3 Beds
•1 Full Bath, 1 Partial
Diane Crouch, Listing Office: Keller Williams Ann Arbor
Is Milan 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, Milan Township has remained a Seller's Market.
Key Takeaway
Milan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milan Township, MI
How much do homes in Milan Township, MI cost?
Median Sold Price
$284,950
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,200(+3.7%)
Key Takeaway
Homes in Milan Township have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Milan Township was $284,950 in October 2024, up 3.7% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | - | N/A |
| 2 Bedrooms | $185K | $230K | +24.3% |
| 3 Bedrooms | $263.2K | $282.5K | +7.3% |
| 4 Bedrooms | $335.2K | $349.9K | +4.4% |
| 5+ Bedrooms | $405K | $381.5K | -5.8% |
Summary: Milan 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 increased by 24.3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 5.8%.
Median Sold Price Compared To Nearby Cities
| London Township | $237.5K | $257.4K | +8.4% |
| Milan Township | $274.7K | $284.9K | +3.7% |
| Milan | $274.7K | $285K | +3.7% |
Housing Supply in Milan Township, MI
How many homes are available in Milan Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 46 | +12.2% |
Summary: The Milan Township real estate market had 46 homes for sale in October 2024, a 12.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 20 | 20 | 0.0% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Milan 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 increased by 30%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milan Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Milan Township in October 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 35 Days | -6.1% |
Summary: Homes in Milan Township had an average of 35 days on market in Oct 2024, down by 6.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Milan Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Milan Township; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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.