Is Center Line, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Center Line has remained a Seller's Market.
Key Takeaway
Center Line is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Center Line, MI
How much do homes in Center Line, MI cost?
Median Sold Price
$166,750
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Center Line have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Center Line was $166,750 in May 2024, up 11.2% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76.1K | - | N/A |
| 2 Bedrooms | $118K | $165K | +39.8% |
| 3 Bedrooms | $160K | $167K | +4.4% |
| 4 Bedrooms | $165K | $206K | +24.8% |
| 5+ Bedrooms | $208K | - | N/A |
Summary: Center Line housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 39.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Center Line | $150K | $166.7K | +11.2% |
| Warren | $169.9K | $185.4K | +9.1% |
Housing Supply in Center Line, MI
How many homes are available in Center Line, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The Center Line real estate market had 25 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 16 | 18 | +12.5% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Center Line housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Center Line, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Center Line in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Center Line, MI
How long does it take to sell a home in Center Line, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 73 Days | 16 Days | -78.0% |
Summary: Homes in Center Line had an average of 16 days on market in May 2024, down by 78% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Center Line are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Center Line; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
