Is Sheridan Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Sheridan Township was a Neutral Market.
Housing Prices in Sheridan Township, MI
How much do homes in Sheridan Township, MI cost?
Median Sold Price
$217,950
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sheridan Township was $217,950 in May 2024, up 17.8% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $149K | $159.9K | +7.3% |
2 Bedrooms | $153K | $167.5K | +9.5% |
3 Bedrooms | $195K | $218K | +11.8% |
4 Bedrooms | $200K | $242.5K | +21.3% |
5+ Bedrooms | - | $311K | N/A |
Summary: Sheridan Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Sheridan Township | $185K | $217.9K | +17.8% |
Beaverton Township | $186K | $159K | -14.5% |
Housing Supply in Sheridan Township, MI
How many homes are available in Sheridan Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Summary: The Sheridan Township real estate market had 8 homes for sale in May 2024, a 38.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 4 | 2 | -50.0% |
3 Bedrooms | 7 | 5 | -28.6% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sheridan Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Sheridan Township in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Sheridan Township, MI
How long does it take to sell a home in Sheridan Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 51 Days | +385.7% |
Summary: Homes in Sheridan Township had an average of 51 days on market in May 2024, up by 385.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Sheridan Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.