Is Hamburg Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Hamburg Township has remained a Seller's Market.
Housing Prices in Hamburg Township, MI
How much do homes in Hamburg Township, MI cost?
Median Sold Price
$406,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hamburg Township was $406,000 in April 2024, up 5.5% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $213.7K | N/A |
2 Bedrooms | $278K | $355.2K | +27.8% |
3 Bedrooms | $356K | $375K | +5.3% |
4 Bedrooms | $431K | $477.5K | +10.8% |
5+ Bedrooms | $605K | $497K | -17.9% |
Summary: Hamburg Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 17.9%.
Median Sold Price Compared To Nearby Cities
Brighton | $367.7K | $411K | +11.8% |
Whitmore Lake | $357.2K | $380K | +6.4% |
Hamburg Township | $385K | $406K | +5.5% |
Housing Supply in Hamburg Township, MI
How many homes are available in Hamburg Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 71 | +20.3% |
Summary: The Hamburg Township real estate market had 71 homes for sale in April 2024, a 20.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 5 | +400.0% |
2 Bedrooms | 6 | 9 | +50.0% |
3 Bedrooms | 24 | 31 | +29.2% |
4 Bedrooms | 25 | 21 | -16.0% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Hamburg Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 400%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 29.2%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 20 | -4.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Hamburg Township in April 2024, down by 4.8% month-over-month. Of the 20 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.
Days on Market for Hamburg Township, MI
How long does it take to sell a home in Hamburg Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
11 Days | 18 Days | +62.4% |
Summary: Homes in Hamburg Township had an average of 18 days on market in Apr 2024, up by 62.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Hamburg Township; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.