$5,344 Closing Credit*
$450,000
2,928 SqFt
3 Beds
•2 Full Baths
Bryon Tanana, Caylie Conner, Listing Office: KW Professionals
Is Northfield Township, 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, Northfield Township was a Buyer's Market.
Key Takeaway
Northfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northfield Township, MI
How much do homes in Northfield Township, MI cost?
Median Sold Price
$424,500
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$79,000(+22.9%)
Key Takeaway
Homes in Northfield Township have sold for 22.9% more than they did a year ago.
Summary: The median home sold price in Northfield Township was $424,500 in October 2024, up 22.9% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $238K | $249.9K | +5.0% |
| 3 Bedrooms | $315K | $389.9K | +23.8% |
| 4 Bedrooms | $432K | $510K | +18.1% |
| 5+ Bedrooms | $506.5K | $625K | +23.4% |
Summary: Northfield 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 5%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 23.4%.
Median Sold Price Compared To Nearby Cities
| Northfield Township | $345.5K | $424.5K | +22.9% |
| Green Oak Township | $407.5K | $439.5K | +7.9% |
| Whitmore Lake | $365K | $390K | +6.8% |
| Salem Township | $663K | $680K | +2.6% |
| South Lyon | $452.6K | $460K | +1.6% |
Housing Supply in Northfield Township, MI
How many homes are available in Northfield Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 34 | +6.3% |
Summary: The Northfield Township real estate market had 34 homes for sale in October 2024, a 6.3% 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 | 8 | 6 | -25.0% |
| 3 Bedrooms | 16 | 23 | +43.8% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Northfield 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 25%, 3 bedroom homes increased by 43.8%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northfield Township, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Northfield Township in October 2024, up by 120.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and 18% were sold over asking.
Days on Market for Northfield Township, MI
How long does it take to sell a home in Northfield Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 32 Days | +59.2% |
Summary: Homes in Northfield Township had an average of 32 days on market in Oct 2024, up by 59.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Northfield Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Northfield Township; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
