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 21 Days Ago

Newest Listings in Wakefield, MI

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