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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westland is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, Westland has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Westland, MI

How much do homes in Westland, MI cost?

Median Sold Price

$210,065

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$15,065(+7.7%)

Key Takeaway

Homes in Westland have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Westland was $210,065 in December 2024, up 7.7% from last year, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $79K$85K
+7.6%
2 $130K$140K
+7.7%
3 $202K$217.9K
+7.9%
4 $258.9K$300.1K
+15.9%
5+ $365K$289K
-20.8%

Summary: Westland housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes decreased by 20.8%.

Median Sold Price Compared To Nearby Cities

Inkster
+22.3%
Wayne
+15.1%
Garden City
+9.8%
Dearborn Heights
+9.1%
Westland
+7.7%

Housing Supply in Westland, MI

How many homes are available in Westland, MI?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
180164-8.9%

Summary: The Westland real estate market had 164 homes for sale in December 2024, a 8.9% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 55
0.0%
2 4335
-18.6%
3 10793
-13.1%
4 2125
+19.0%
5+ 46
+50.0%

Summary: The Westland housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.6%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
5950-15.3%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westland, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 50 homes were sold or pending in Westland in December 2024, down by 15.3% month-over-month. Of the 50 sold homes, 48% were sold under asking, 14% were sold at asking, and 38% were sold over asking.

Days on Market for Westland, MI

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

Average Sale Time

Dec 2023Dec 2024CHANGE
23 Days24 Days+5.2%

Summary: Homes in Westland had an average of 24 days on market in Dec 2024, up by 5.2% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 50 homes were sold in Westland; 68% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 4% 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 Westland, MI

Nearby Markets to Westland, MI

What housing markets are near Westland, MI?