$2,969 Closing Credit*
$250,000
1,450 SqFt
4 Beds
•1 Full Bath, 1 Partial
Haley Malloy, Listing Office: Community Choice Realty
Is Southfield Township, 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, Southfield Township has remained a Seller's Market.
Key Takeaway
Southfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southfield Township, MI
How much do homes in Southfield Township, MI cost?
Median Sold Price
$270,209
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,407(+6.0%)
Key Takeaway
Homes in Southfield Township have sold for 6% more than they did a year ago.
Summary: The median home sold price in Southfield Township was $270,209 in November 2024, up 6% 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 | $83K | $76K | -8.4% |
| 2 Bedrooms | $167K | $171.5K | +2.7% |
| 3 Bedrooms | $240K | $260K | +8.3% |
| 4 Bedrooms | $360K | $393.4K | +9.3% |
| 5+ Bedrooms | $614.5K | $560K | -8.9% |
Summary: Southfield Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.4%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Birmingham | $720.1K | $850K | +18.0% |
| Southfield Township | $254.8K | $270.2K | +6.0% |
| Beverly Hills | $522.5K | $520.7K | -0.3% |
Housing Supply in Southfield Township, MI
How many homes are available in Southfield Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 256 | 268 | +4.7% |
Summary: The Southfield Township real estate market had 268 homes for sale in November 2024, a 4.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 51 | 61 | +19.6% |
| 3 Bedrooms | 115 | 121 | +5.2% |
| 4 Bedrooms | 75 | 73 | -2.7% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Southfield Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 62 | -7.5% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southfield Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Southfield Township in November 2024, down by 7.5% month-over-month. Of the 62 sold homes, 50% were sold under asking, 18% were sold at asking, and 32% were sold over asking.
Days on Market for Southfield Township, MI
How long does it take to sell a home in Southfield Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 33 Days | +51.3% |
Summary: Homes in Southfield Township had an average of 33 days on market in Nov 2024, up by 51.3% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southfield Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 62 homes were sold in Southfield Township; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% 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.