$1,413 Closing Credit*
$119,000
1,782 SqFt
4 Beds
•2 Full Baths
Lexus Weathers, Listing Office: Keller Williams Legacy
Is Romulus, 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, Romulus has remained a Seller's Market.
Key Takeaway
Romulus is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Romulus, MI
How much do homes in Romulus, MI cost?
Median Sold Price
$200,666
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,666(+11.5%)
Key Takeaway
Homes in Romulus have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Romulus was $200,666 in November 2024, up 11.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $155K | $160K | +3.2% |
| 3 Bedrooms | $176.5K | $196K | +11.0% |
| 4 Bedrooms | $281K | $315K | +12.1% |
| 5+ Bedrooms | $355K | $394K | +11.0% |
Summary: Romulus 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 3.2%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 11%.
Median Sold Price Compared To Nearby Cities
| Wayne | $150.5K | $175K | +16.3% |
| Taylor | $156.5K | $175K | +11.8% |
| Romulus | $180K | $200.6K | +11.5% |
| Westland | $192.5K | $210K | +9.1% |
| Huron Charter Township | $322K | $339.9K | +5.6% |
Housing Supply in Romulus, MI
How many homes are available in Romulus, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 86 | 79 | -8.1% |
Summary: The Romulus real estate market had 79 homes for sale in November 2024, a 8.1% decrease 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 | 12 | 11 | -8.3% |
| 3 Bedrooms | 57 | 50 | -12.3% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Romulus 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 8.3%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 20 | -16.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Romulus, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Romulus in November 2024, down by 16.7% month-over-month. Of the 20 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for Romulus, MI
How long does it take to sell a home in Romulus, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 18 Days | -18.8% |
Summary: Homes in Romulus had an average of 18 days on market in Nov 2024, down by 18.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Romulus are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 20 homes were sold in Romulus; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% 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.