Is Shelby, 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, Shelby has remained a Buyer's Market.
Housing Prices in Shelby, MI
How much do homes in Shelby, MI cost?
Median Sold Price
$210,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Shelby was $210,000 in April 2024, up 16% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69.5K | $102.5K | +47.5% |
2 Bedrooms | $183.2K | $176K | -3.9% |
3 Bedrooms | $175K | $270.5K | +54.6% |
4 Bedrooms | $450K | $185K | -58.9% |
5+ Bedrooms | $325K | $143.5K | -55.8% |
Summary: Shelby housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.5%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes increased by 54.6%, 4 bedroom homes decreased by 58.9%, and 5+ bedroom homes decreased by 55.8%.
Median Sold Price Compared To Nearby Cities
Shelby | $181K | $210K | +16.0% |
Shelby Township | $189.9K | $219.9K | +15.8% |
Housing Supply in Shelby, MI
How many homes are available in Shelby, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Summary: The Shelby real estate market had 15 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 4 | 7 | +75.0% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Shelby housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 75%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Shelby in April 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Shelby, MI
How long does it take to sell a home in Shelby, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 4 Days | -77.8% |
Summary: Homes in Shelby had an average of 4 days on market in Apr 2024, down by 77.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Shelby; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.