$356 Closing Credit*
$30,000
1,100 SqFt
2 Beds
•1 Full Bath
Peter Gojcaj, Listing Office: PG Real Estate Group Inc
Is Sterling Heights, 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, Sterling Heights has remained a Seller's Market.
Key Takeaway
Sterling Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sterling Heights, MI
How much do homes in Sterling Heights, MI cost?
Median Sold Price
$305,153
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,653(+6.9%)
Key Takeaway
Homes in Sterling Heights have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Sterling Heights was $305,153 in November 2024, up 6.9% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94.5K | $102.4K | +8.4% |
| 2 Bedrooms | $200K | $225K | +12.5% |
| 3 Bedrooms | $285K | $305.1K | +7.1% |
| 4 Bedrooms | $340K | $372K | +9.4% |
| 5+ Bedrooms | $383K | $381K | -0.5% |
Summary: Sterling Heights housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Clinton Township | $223.2K | $250K | +12.0% |
| Sterling Heights | $285.5K | $305.1K | +6.9% |
| Shelby Charter Township | $335.9K | $354.6K | +5.5% |
| Fraser | $226K | $223.5K | -1.1% |
| Utica | $532.5K | $486K | -8.7% |
Housing Supply in Sterling Heights, MI
How many homes are available in Sterling Heights, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 370 | 329 | -11.1% |
Summary: The Sterling Heights real estate market had 329 homes for sale in November 2024, a 11.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 77 | 75 | -2.6% |
| 3 Bedrooms | 199 | 170 | -14.6% |
| 4 Bedrooms | 83 | 74 | -10.8% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Sterling Heights 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 2.6%, 3 bedroom homes decreased by 14.6%, 4 bedroom homes decreased by 10.8%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 140 | 78 | -44.3% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sterling Heights, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 78 homes were sold or pending in Sterling Heights in November 2024, down by 44.3% month-over-month. Of the 78 sold homes, 47% were sold under asking, 19% were sold at asking, and 33% were sold over asking.
Days on Market for Sterling Heights, MI
How long does it take to sell a home in Sterling Heights, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +18.4% |
Summary: Homes in Sterling Heights had an average of 20 days on market in Nov 2024, up by 18.4% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sterling Heights are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 78 homes were sold in Sterling Heights; 79% of homes were sold within 30 days, 21% 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.