$5,522 Closing Credit*
$464,990
2,432 SqFt
4 Beds
•2 Full Baths, 1 Partial
Kristina Martin, Listing Office: Arterra Realty Michigan LLC
Is Romeo, 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, Romeo has remained a Seller's Market.
Key Takeaway
Romeo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Romeo, MI
How much do homes in Romeo, MI cost?
Median Sold Price
$395,500
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$85,000(+27.4%)
Key Takeaway
Homes in Romeo have sold for 27.4% more than they did a year ago.
Summary: The median home sold price in Romeo was $395,500 in November 2024, up 27.4% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $249K | $262.5K | +5.4% |
| 3 Bedrooms | $310.7K | $409.2K | +31.7% |
| 4 Bedrooms | $420K | $481.9K | +14.8% |
| 5+ Bedrooms | $275K | $375K | +36.4% |
Summary: Romeo 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 increased by 5.4%, 3 bedroom homes increased by 31.7%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 36.4%.
Median Sold Price Compared To Nearby Cities
| Romeo | $310.5K | $395.5K | +27.4% |
| Bruce Township | $415K | $438.1K | +5.6% |
| Washington | $443K | $445K | 0.5% |
| Washington Township | $429.5K | $430.5K | 0.2% |
Housing Supply in Romeo, MI
How many homes are available in Romeo, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Summary: The Romeo 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 | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Romeo 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 50%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Romeo, expect to pay close to the asking price. 83.3% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Romeo in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 83% were sold at asking, and 0% were sold over asking.
Days on Market for Romeo, MI
How long does it take to sell a home in Romeo, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 7 Days | -67.9% |
Summary: Homes in Romeo had an average of 7 days on market in Nov 2024, down by 67.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Romeo are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Romeo; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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.