Is Wakefield, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wakefield is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Wakefield was a Buyer's Market.

Key Takeaway

Wakefield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Wakefield, MI

How much do homes in Wakefield, MI cost?

Median Sold Price

$95,000

$70/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$235,000(-71.2%)

Key Takeaway

Homes in Wakefield have sold for 71.2% less than they did a month ago.

Summary: The median home sold price in Wakefield was $95,000 in October 2024, down 71.2% from last month, and the median price per square foot was $70.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 -$95K
N/A
4 $330K-
N/A
5+ --
N/A

Summary: Wakefield housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Wakefield
-71.2%
Wakefield Township
-71.2%

Housing Supply in Wakefield, MI

How many homes are available in Wakefield, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1516+6.7%

Summary: The Wakefield real estate market had 16 homes for sale in October 2024, a 6.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 910
+11.1%
4 32
-33.3%
5+ 22
0.0%

Summary: The Wakefield 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 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wakefield, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Wakefield in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Wakefield, MI

How long does it take to sell a home in Wakefield, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
49 Days62 Days+27.9%

Summary: Homes in Wakefield had an average of 62 days on market in Oct 2024, up by 27.9% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Wakefield are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Wakefield; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Wakefield, MI

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