$4,452 Closing Credit*
$374,900
1,994 SqFt
4 Beds
•2 Full Baths, 1 Partial
Emmie Littlejohn, Listing Office: Select Real Estate Professionals
Is Southfield Township, 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, 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
$270,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+3.8%)
Key Takeaway
Homes in Southfield Township have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Southfield Township was $270,000 in October 2024, up 3.8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83K | $95.5K | +15.1% |
| 2 Bedrooms | $170K | $170.5K | 0.3% |
| 3 Bedrooms | $244.5K | $259.9K | +6.3% |
| 4 Bedrooms | $370.1K | $376K | +1.6% |
| 5+ Bedrooms | $628K | $560.8K | -10.7% |
Summary: Southfield Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.1%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Birmingham | $732.8K | $811K | +10.7% |
| Southfield Township | $260K | $270K | +3.8% |
| Beverly Hills | $512.5K | $530K | +3.4% |
Housing Supply in Southfield Township, MI
How many homes are available in Southfield Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 230 | 261 | +13.5% |
Summary: The Southfield Township real estate market had 261 homes for sale in October 2024, a 13.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 40 | 48 | +20.0% |
| 3 Bedrooms | 113 | 124 | +9.7% |
| 4 Bedrooms | 63 | 73 | +15.9% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Southfield Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 53 | -23.2% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 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. 54.7% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Southfield Township in October 2024, down by 23.2% month-over-month. Of the 53 sold homes, 55% were sold under asking, 21% were sold at asking, and 25% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 34 Days | +100.2% |
Summary: Homes in Southfield Township had an average of 34 days on market in Oct 2024, up by 100.2% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
6 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 October 2024, 53 homes were sold in Southfield Township; 55% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 11% 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.