Is Pontiac, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pontiac is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Pontiac has remained a Seller's Market.

Key Takeaway

Pontiac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Pontiac, MI

How much do homes in Pontiac, MI cost?

Median Sold Price

$140,000

$109/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$7,416(+5.6%)

Key Takeaway

Homes in Pontiac have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Pontiac was $140,000 in November 2024, up 5.6% from last year, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $175K$222.5K
+27.1%
2 $94.4K$110K
+16.5%
3 $133K$150K
+12.8%
4 $227.4K$185K
-18.7%
5+ $257.9K$135K
-47.7%

Summary: Pontiac housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.1%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 18.7%, and 5+ bedroom homes decreased by 47.7%.

Median Sold Price Compared To Nearby Cities

Waterford Charter Township
+6.8%
Pontiac
+5.6%
Auburn Hills
+1.2%

Housing Supply in Pontiac, MI

How many homes are available in Pontiac, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1471470.0%

Summary: The Pontiac real estate market had 147 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 3132
+3.2%
3 8184
+3.7%
4 3027
-10.0%
5+ 43
-25.0%

Summary: The Pontiac 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 increased by 3.2%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4539-13.3%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pontiac, you may be able to get a good deal. 56.4% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in Pontiac in November 2024, down by 13.3% month-over-month. Of the 39 sold homes, 56% were sold under asking, 8% were sold at asking, and 36% were sold over asking.

Days on Market for Pontiac, MI

How long does it take to sell a home in Pontiac, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
22 Days32 Days+45.2%

Summary: Homes in Pontiac had an average of 32 days on market in Nov 2024, up by 45.2% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pontiac are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 39 homes were sold in Pontiac; 62% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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