$3,681 Closing Credit*
$310,000
1,850 SqFt
3 Beds
•1 Full Bath, 1 Partial
#50161303, Lorenza Sorrell, Listing Office: Select Real Estate Professionals
Is Sterling Heights, 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, 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
$305,022
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,021(+7.0%)
Key Takeaway
Homes in Sterling Heights have sold for 7% more than they did a year ago.
Summary: The median home sold price in Sterling Heights was $305,022 in October 2024, up 7% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94K | $104K | +10.6% |
| 2 Bedrooms | $200K | $225K | +12.5% |
| 3 Bedrooms | $283.6K | $305K | +7.5% |
| 4 Bedrooms | $339.9K | $372.5K | +9.6% |
| 5+ Bedrooms | $400K | $390K | -2.5% |
Summary: Sterling Heights housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Clinton Township | $224.9K | $250K | +11.1% |
| Sterling Heights | $285K | $305K | +7.0% |
| Shelby Charter Township | $339.9K | $352.7K | +3.8% |
| Fraser | $222.5K | $220K | -1.1% |
| Utica | $515K | $465K | -9.7% |
Housing Supply in Sterling Heights, MI
How many homes are available in Sterling Heights, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 356 | 381 | +7.0% |
Summary: The Sterling Heights real estate market had 381 homes for sale in October 2024, a 7.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 3 | -50.0% |
| 2 Bedrooms | 74 | 75 | +1.4% |
| 3 Bedrooms | 190 | 203 | +6.8% |
| 4 Bedrooms | 79 | 89 | +12.7% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Sterling Heights housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 112 | 123 | +9.8% |
Asking Price vs. Sold Price
57 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
44 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. 46.3% of homes here sold below asking price last month.
Summary: A total of 123 homes were sold or pending in Sterling Heights in October 2024, up by 9.8% month-over-month. Of the 123 sold homes, 46% were sold under asking, 18% were sold at asking, and 36% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 26 Days | +59.0% |
Summary: Homes in Sterling Heights had an average of 26 days on market in Oct 2024, up by 59% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
4 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 October 2024, 123 homes were sold in Sterling Heights; 70% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 3% 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.