$2,363 Closing Credit*
$199,000
1,482 SqFt
3 Beds
•1 Full Bath
Virginia Bell, Listing Office: C Miles Realty LLC
Is Redford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$175,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+12.9%)
Key Takeaway
Homes in Redford have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Redford was $175,000 in November 2024, up 12.9% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $48.2K | $60K | +24.4% |
| 2 Bedrooms | $108.5K | $129.9K | +19.7% |
| 3 Bedrooms | $160K | $177.8K | +11.1% |
| 4 Bedrooms | $200K | $195K | -2.5% |
| 5+ Bedrooms | $234K | $255K | +9.0% |
Summary: Redford housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.4%, 2 bedroom homes increased by 19.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
| Redford | $155K | $175K | +12.9% |
| Redford Charter Township | $155K | $175K | +12.9% |
| Dearborn Heights | $185K | $205K | +10.8% |
| Livonia | $280K | $301K | +7.5% |
| Southfield | $219.9K | $221.5K | +0.7% |
Housing Supply in Redford, MI
How many homes are available in Redford, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 225 | 219 | -2.7% |
Summary: The Redford real estate market had 219 homes for sale in November 2024, a 2.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 23 | 19 | -17.4% |
| 3 Bedrooms | 182 | 177 | -2.7% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Redford 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 decreased by 17.4%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 68 | 50 | -26.5% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redford, you could pay more than the asking price. 42% of homes here sold above asking price last month.
Summary: A total of 50 homes were sold or pending in Redford in November 2024, down by 26.5% month-over-month. Of the 50 sold homes, 40% were sold under asking, 18% were sold at asking, and 42% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 23 Days | +5.9% |
Summary: Homes in Redford had an average of 23 days on market in Nov 2024, up by 5.9% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Redford are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 50 homes were sold in Redford; 70% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.