$179,000
10.00 Acres
Land
JON D STOUT, Listing Office: Stout Group Ltd
Is Oakfield 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, Oakfield Township was a Seller's Market.
Key Takeaway
Oakfield Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakfield Township, MI
How much do homes in Oakfield Township, MI cost?
Median Sold Price
$375,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$54,000(+16.8%)
Key Takeaway
Homes in Oakfield Township have sold for 16.8% more than they did a year ago.
Summary: The median home sold price in Oakfield Township was $375,000 in November 2024, up 16.8% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $190.8K | N/A |
| 2 Bedrooms | $312.5K | $205K | -34.4% |
| 3 Bedrooms | $307.5K | $350K | +13.8% |
| 4 Bedrooms | $324.7K | $415K | +27.8% |
| 5+ Bedrooms | $395K | $442.5K | +12.0% |
Summary: Oakfield 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 decreased by 34.4%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
| Spencer Township | $225K | $340.9K | +51.5% |
| Gowen | $210K | $318K | +51.4% |
| Oakfield Township | $321K | $375K | +16.8% |
| Eureka Township | $275.9K | $302.5K | +9.6% |
| Grattan Township | $495K | $439.5K | -11.2% |
Housing Supply in Oakfield Township, MI
How many homes are available in Oakfield Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Summary: The Oakfield Township real estate market had 20 homes for sale in November 2024, a 11.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The Oakfield Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 2 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakfield Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Oakfield Township in November 2024, down by 66.7% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Oakfield Township, MI
How long does it take to sell a home in Oakfield Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 28 Days | 19 Days | -31.0% |
Summary: Homes in Oakfield Township had an average of 19 days on market in Nov 2024, down by 31% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakfield Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Oakfield Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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