$5,543 Closing Credit*
$466,800
1,956 SqFt
3 Beds
•2 Full Baths, 2 Partial
Anita M Lanctot, Listing Office: Coldwell Banker Realty
Is Troy, 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, Troy has remained a Seller's Market.
Key Takeaway
Troy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Troy, MI
How much do homes in Troy, MI cost?
Median Sold Price
$442,528
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,646(+8.0%)
Key Takeaway
Homes in Troy have sold for 8% more than they did a year ago.
Summary: The median home sold price in Troy was $442,528 in October 2024, up 8% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $138K | +10.4% |
| 2 Bedrooms | $268.2K | $280K | +4.4% |
| 3 Bedrooms | $360.4K | $375K | +4.1% |
| 4 Bedrooms | $524.3K | $565.3K | +7.8% |
| 5+ Bedrooms | $670K | $726K | +8.4% |
Summary: Troy housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Birmingham | $732.8K | $811K | +10.7% |
| Troy | $409.8K | $442.5K | +8.0% |
| Sterling Heights | $285K | $305K | +7.0% |
| Clawson | $280K | $299K | +6.8% |
| Royal Oak | $334.9K | $345K | +3.0% |
Housing Supply in Troy, MI
How many homes are available in Troy, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 237 | 248 | +4.6% |
Summary: The Troy real estate market had 248 homes for sale in October 2024, a 4.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 21 | 28 | +33.3% |
| 3 Bedrooms | 85 | 97 | +14.1% |
| 4 Bedrooms | 111 | 105 | -5.4% |
| 5+ Bedrooms | 18 | 17 | -5.6% |
Summary: The Troy 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 33.3%, 3 bedroom homes increased by 14.1%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 72 | 79 | +9.7% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Troy, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.
Summary: A total of 79 homes were sold or pending in Troy in October 2024, up by 9.7% month-over-month. Of the 79 sold homes, 47% were sold under asking, 8% were sold at asking, and 46% were sold over asking.
Days on Market for Troy, MI
How long does it take to sell a home in Troy, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 17 Days | -20.8% |
Summary: Homes in Troy had an average of 17 days on market in Oct 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Troy are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 79 homes were sold in Troy; 84% of homes were sold within 30 days, 16% 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. 
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