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 November 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

$210,000

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$17,475(+9.1%)

Key Takeaway

Homes in Westland have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Westland was $210,000 in November 2024, up 9.1% from last year, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $79K$86K
+8.9%
2 $130K$140K
+7.7%
3 $200K$219.5K
+9.8%
4 $255K$293K
+14.9%
5+ $328.7K$289.5K
-11.9%

Summary: Westland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes decreased by 11.9%.

Median Sold Price Compared To Nearby Cities

Inkster
+21.7%
Wayne
+16.3%
Dearborn Heights
+10.8%
Garden City
+9.4%
Westland
+9.1%

Housing Supply in Westland, MI

How many homes are available in Westland, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
217187-13.8%

Summary: The Westland real estate market had 187 homes for sale in November 2024, a 13.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 45
+25.0%
2 6048
-20.0%
3 126106
-15.9%
4 2424
0.0%
5+ 34
+33.3%

Summary: The Westland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7853-32.1%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

13 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. 39.6% of homes here sold below asking price last month.

Summary: A total of 53 homes were sold or pending in Westland in November 2024, down by 32.1% month-over-month. Of the 53 sold homes, 40% were sold under asking, 25% were sold at asking, and 36% 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

Nov 2023Nov 2024CHANGE
15 Days24 Days+53.0%

Summary: Homes in Westland had an average of 24 days on market in Nov 2024, up by 53% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 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 November 2024, 53 homes were sold in Westland; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% 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 2 Days Ago

Newest Listings in Westland, MI

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