Is Wayne, 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, Wayne has remained a Seller's Market.
Housing Prices in Wayne, MI
How much do homes in Wayne, MI cost?
Median Sold Price
$165,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wayne was $165,000 in May 2024, up 10.1% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $111K | $130K | +17.1% |
3 Bedrooms | $150K | $165K | +10.0% |
4 Bedrooms | $223K | $227K | +1.8% |
5+ Bedrooms | $225K | $260K | +15.6% |
Summary: Wayne 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 17.1%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 15.6%.
Housing Supply in Wayne, MI
How many homes are available in Wayne, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
41 | 42 | +2.4% |
Summary: The Wayne real estate market had 42 homes for sale in May 2024, a 2.4% 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 | 5 | 8 | +60.0% |
3 Bedrooms | 26 | 23 | -11.5% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wayne 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 60%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 10 | -37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Wayne in May 2024, down by 37.5% month-over-month. Of the 10 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Wayne, MI
How long does it take to sell a home in Wayne, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 16 Days | -21.8% |
Summary: Homes in Wayne had an average of 16 days on market in May 2024, down by 21.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Wayne; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.