Is Colfax Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Colfax Township was a Neutral Market.
Key Takeaway
Colfax Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colfax Township, MI
How much do homes in Colfax Township, MI cost?
Median Sold Price
$270,050
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Colfax Township have sold for 25.6% more than they did a year ago.
Summary: The median home sold price in Colfax Township was $270,050 in April 2024, up 25.6% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $101K | $200K | +98.0% |
| 3 Bedrooms | $229.7K | $265.1K | +15.4% |
| 4 Bedrooms | $237.5K | $300K | +26.3% |
| 5+ Bedrooms | $336K | $312.5K | -7.0% |
Summary: Colfax 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 98%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes decreased by 7%.
Median Sold Price Compared To Nearby Cities
| Colfax Township | $215K | $270K | +25.6% |
| Grant Township | $213K | $226K | +6.1% |
| Austin Township | $218.2K | $231K | +5.8% |
| Rodney | $185K | $193K | +4.3% |
| Martiny Township | $221.2K | $190K | -14.1% |
Housing Supply in Colfax Township, MI
How many homes are available in Colfax Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Colfax Township real estate market had 8 homes for sale in April 2024, a 14.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Colfax Township 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 increased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colfax Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Colfax Township in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Colfax Township, MI
How long does it take to sell a home in Colfax Township, MI?
Breakdown of Home Sale Times
2 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 Colfax Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Colfax Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
