$2,375 Closing Credit*
$200,000
1,250 SqFt
3 Beds
•1 Full Bath, 1 Partial
Zachary Harrison, Listing Office: Top Agent Realty
Is Redford, 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, Redford has remained a Seller's Market.
Key Takeaway
Redford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redford, MI
How much do homes in Redford, MI cost?
Median Sold Price
$170,833
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,833(+10.2%)
Key Takeaway
Homes in Redford have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Redford was $170,833 in October 2024, up 10.2% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $46.5K | $60K | +29.0% |
| 2 Bedrooms | $107K | $126.2K | +18.0% |
| 3 Bedrooms | $160K | $175K | +9.4% |
| 4 Bedrooms | $195K | $195.3K | 0.2% |
| 5+ Bedrooms | $188K | $255K | +35.6% |
Summary: Redford housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 35.6%.
Median Sold Price Compared To Nearby Cities
| Dearborn Heights | $181.3K | $205K | +13.0% |
| Redford | $155K | $170.8K | +10.2% |
| Redford Charter Township | $155K | $170.7K | +10.1% |
| Livonia | $275.9K | $300K | +8.7% |
| Southfield | $218.9K | $225.6K | +3.1% |
Housing Supply in Redford, MI
How many homes are available in Redford, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 208 | 225 | +8.2% |
Summary: The Redford real estate market had 225 homes for sale in October 2024, a 8.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 22 | 21 | -4.5% |
| 3 Bedrooms | 169 | 185 | +9.5% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Redford housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 67 | +3.1% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redford, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.
Summary: A total of 67 homes were sold or pending in Redford in October 2024, up by 3.1% month-over-month. Of the 67 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% were sold over asking.
Days on Market for Redford, MI
How long does it take to sell a home in Redford, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 22 Days | +23.6% |
Summary: Homes in Redford had an average of 22 days on market in Oct 2024, up by 23.6% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redford are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 67 homes were sold in Redford; 73% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 3% 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.