New - 5 hours on Rocket
$2,493 Closing Credit¹
Rick D Nessel, Patty Nessel, Listing Office: National Realty Centers, Inc
Farmington Hills Housing Market Report December 2024•Oakland County, Michigan
Housing Prices in Farmington Hills, MI
How much do homes in Farmington Hills, MI cost?
Housing Market Conditions
Is Farmington Hills, MI a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Farmington Hills is a Seller's Market
Difference Since December 2023
Since last year, Farmington Hills has remained a Seller's Market.
Insight
Farmington Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$355,000$156/SqFt
+$3,980
+1.1%
Based on all homes sold in the last 12 months
Insight
Homes in Farmington Hills have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Farmington Hills was $355,000 in December 2024, up 1.1% from last year, and the median price per square foot was $156.
Median Sold Price By City
| City | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| Livonia | $282.7K | $300.6K | +6.3% |
| Southfield | $219.1K | $225.4K | +2.9% |
| Farmington Hills | $351K | $355K | +1.1% |
| Farmington | $340.3K | $300K | -11.9% |
| Franklin | $902.5K | $753.5K | -16.5% |
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 22 Bedrooms | $236.5K | $222.2K | -6.0% |
| 44 Bedrooms | $425.1K | $460.6K | +8.4% |
| 55+ Bedrooms | $445K | $560K | +25.8% |
| 11 Bedroom | $106K | $121.5K | +14.6% |
| 33 Bedrooms | $335K | $340K | +1.5% |
Summary: Farmington Hills housing price by bedroom type for December 2024, compared to the previous year. The home price for 2 bedroom homes decreased by -6.0%. The home price for 4 bedroom homes increased by +8.4%. The home price for 5 bedroom homes increased by +25.8%. The home price for 1 bedroom homes increased by +14.6%. The home price for 3 bedroom homes increased by +1.5%.
Housing supply in Farmington Hills, MI
How many homes are available in Farmington Hills, MI?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 172Last MonthDec 2024 | ||
| 2132 months agoNov 2024 | -19.2 % Change MoMNov – Dec |
Summary: The Farmington Hills real estate market had 172 homes for sale in Dec 2024, a 19.2 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 52Last MonthDec 2024 | ||
| 822 months agoNov 2024 | -36.6 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 22 Bedrooms | 42 | 36 | -14.3% |
| 44 Bedrooms | 79 | 63 | -20.3% |
| 55+ Bedrooms | 9 | 9 | 0.0% |
| 11 Bedroom | 11 | 10 | -9.1% |
| 33 Bedrooms | 72 | 54 | -25.0% |
Summary: Farmington Hills housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 2 bedroom homes decreased by -14.3%. The inventory for 4 bedroom homes decreased by -20.3%. The inventory for 5 bedroom homes remained the same. The inventory for 1 bedroom homes decreased by -9.1%. The inventory for 3 bedroom homes decreased by -25.0%.
Asking Price vs. Sold Price
How much do homes in Farmington Hills, MI cost?
Over Asking Price16 Homes
At Asking Price5 Homes
Under Asking Price31 Homes
Insight
If you're buying a home in Farmington Hills, you may be able to get a good deal. 59.6% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Farmington Hills in December 2024, down by 36.6% month-over-month. Of the 52 sold homes, 60% were sold under asking, 10% were sold at asking, and and 31% were sold over asking.
Days on Market for Farmington Hills, MI
How long does it take to sell a home in Farmington Hills, MI?
Breakdown of Home Sale Times
Under 30 Days37 Homes
30 – 90 Days12 Homes
Over 90 Days3 Homes
Insight
Many homes in Farmington Hills are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 52 homes were sold in Farmington Hills; 71% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 30 DaysThis YearDec 2024 | ||
| 21 Days1 year agoDec 2023 | +44.0 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Farmington Hills had an average listing age of 30 days in Dec 2024, up by 44.0% compared to the previous year.
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Newest Listings in Farmington Hills, MI
What homes are available in Farmington Hills, MI?
New - 1 day on Rocket
$2,256 Closing Credit¹
#50165424, Paolo Nikaj, Listing Office: Keller Williams Realty Lakeside
Coming soon
$7,125 Closing Credit¹
Brittany Uitermarkt, Listing Office: EXP Realty
Coming soon
$5,047 Closing Credit¹
Michael DesRosiers, Kenneth J Hirschmann, Listing Office: EXP Realty
Coming soon
$7,541 Closing Credit¹
Jason Salem, Listing Office: REALTEAM Real Estate
New - 4 days on Rocket
$3,669 Closing Credit¹
#50165249, Dupri Freeman, Listing Office: Real Estate One Clinton
New - 4 days on Rocket
$3,859 Closing Credit¹
Thomas Gilliam, Listing Office: RE/MAX Classic
New - 6 days on RocketBackup offers
$3,147 Closing Credit¹
Nancy Collias, Listing Office: KW Domain
New - 7 days on Rocket
$1,841 Closing Credit¹
Masroor Ahmed, Listing Office: Keller Williams Advantage
$4,691 Closing Credit¹
Regina DeSanto, Andy Hargreaves, Listing Office: Prime + Property
$5,212 Closing Credit¹
Mark I Warren, Listing Office: Berkshire Hathaway HomeServices Kee Realty Bham
Backup offers
$3,088 Closing Credit¹
Leila Modetz, Listing Office: EXP Realty Main
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MLS Disclaimers and Copyright
Based on information from RealComp II Ltd., Michigan Regional Information Center LLC, and MiRealSource Inc. DL for the period 01/01/2023 - 01/01/2025
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.
IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:25:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:21:02 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.