The median sale price for a single-family home sold in Wayne County in April was $177,000. That’s a 1.7% increase from April 2021, according to localized USA TODAY Network analysis generated with data from real estate agent.com.
Year over year, prices have increased for 32 consecutive months. April prices are up from $167,000 the previous month.
The number of homes sold increased by 7.4% over the previous year. A total of 1,604 homes were sold across the county in April. During the same period a year earlier, 1,493 single-family homes had been sold.
The Oakland County median selling price for a single-family home was $301,000, up 5.1% from a year earlier. Prices have risen for 23 consecutive months year over year. Some 820 homes were sold in April, down 25.4% from a year earlier.
Real estate sales can take weeks or months to register and collect. This is the latest data made available by Realtor.com at USA TODAY Network.
Wayne County condos and townhouses sold in April had a median sale price of $220,000. This figure represents a 7.8% year-over-year increase. Some 238 were sold, up 6.7% from the previous year.
How hot are the Wayne County and Oakland County real estate markets in Michigan?
Information about your local housing markets is available via the USA TODAY Network, with more data from Realtor.com.
In Wayne County, the top 10% properties sold for at least $450,000, up 12.2% from a year earlier.
In April, eight properties sold for at least $1 million, consisting of six single-family homes, a condominium or townhouse and one other property.
In Oakland County, the top 10% properties sold for at least $660,000, up 10.2% from a year earlier.
The median sales price for single-family homes in Michigan was $206,500 in April, up 11.6% from a year earlier. The state reported 8,457 single-family homes sold, down 17.3% from a year earlier.
The median home sale price – the midpoint of all homes or units sold over a given time period – is used in this report instead of the average home sale price, because experts say the median offers a more precise view of what is happening in a market. To find the average price, all the prices of houses sold are added together and then divided by the number of houses sold. This measure can be distorted by a low or high price.
The USA TODAY Network publishes localized versions of this story on its news sites across the country, generated with data from real estate agent.com. Localized versions are generated for communities where data quality and transaction volume meet Realtor.com and USA TODAY Network standards. The story was written by Sean Lahman.