Troy, MI Housing Market
The Troy housing market is most competitive. Homes in Troy receive 4 offers on average and sell in around 7 days. The median sale price of a home in Troy was $500K last month, up 15.7% since last year. The median sale price per square foot in Troy is $240, up 11.9% since last year.
Troy Housing Market Trends
In May 2024, Troy home prices were up 15.7% compared to last year, selling for a median price of $500K. On average, homes in Troy sell after 7 days on the market compared to 11 days last year. There were 75 homes sold in May this year, down from 87 last year.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Troy housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Most homes get multiple offers, often with waived contingencies.
- The average homes sell for about 4% above list price and go pending in around 8 days.
- Hot homescan sell for about 8% above list price and go pending in around 4 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 2% above list price and go pending in around 12 days.
- Hot homescan sell for about 6% above list price and go pending in around 5 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 2% above list price and go pending in around 8 days.
- Hot homescan sell for about 7% above list price and go pending in around 5 days.
Troy Migration & Relocation Trends
- Across the nation, 0.73% of homebuyers searched to move into Troy from outside metros.
- New York homebuyers searched to move into Troy more than any other metro followed by Los Angeles and Washington.
- 78% of Troy homebuyers searched to stay within the Troy metropolitan area.
- Cape Coral was the most popular destination among Troy homebuyers followed by Grand Rapids and Sarasota.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Mar '24 - May '24 | ||
1 | 442 | ||
2 | 379 | ||
3 | 363 | ||
4 | 314 | ||
5 | 191 | ||
6 | 125 | ||
7 | 97 | ||
8 | 75 | ||
9 | 71 | ||
10 | 67 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Mar '24 - May '24 | ||
1 | 272 | ||
2 | 181 | ||
3 | 154 | ||
4 | 150 | ||
5 | 120 | ||
6 | 102 | ||
7 | 101 | ||
8 | 94 | ||
9 | 84 | ||
10 | 75 |
Home offer insights for Troy
Recent offers
View houses in Troy that sold recently
Recently sold homes
- $2,325,000 Last Sold Price6 beds7.5 baths5,083 sq ft2557 Charnwood Dr, Troy, MI 48098List Price$2,390,000Sale to List3% under listDays on Market63 days2557 Charnwood Dr, Troy, MI 48098
- $299,000 Last Sold Price3 beds2 baths1,072 sq ft660 Robinwood Dr, Troy, MI 48083List Price$239,900Sale to List25% over listDays on Market38 days660 Robinwood Dr, Troy, MI 48083
- $321,000 Last Sold Price3 beds2.5 baths1,487 sq ft5147 Buckingham, Troy, MI 48098List Price$324,900Sale to List1% under listDays on Market50 days5147 Buckingham, Troy, MI 48098
- $525,000 Last Sold Price2 beds2.5 baths2,523 sq ft734 Seabiscuit Dr, Troy, MI 48084List Price$539,900Sale to List3% under listDays on Market31 days734 Seabiscuit Dr, Troy, MI 48084
- $349,900 Last Sold Price3 beds1.5 baths1,512 sq ft4996 Foxcroft Dr, Troy, MI 48085List Price$349,900Sale to List0% over listDays on Market39 days4996 Foxcroft Dr, Troy, MI 48085
- $363,900 Last Sold Price2 beds2.5 baths1,969 sq ft3170 Camden Dr, Troy, MI 48084List Price$369,900Sale to List2% under listDays on Market118 days3170 Camden Dr, Troy, MI 48084
- $362,000 Last Sold Price2 beds3 baths1,750 sq ft5938 Creekside Dr, Troy, MI 48085(586) 286-6000List Price$359,900Sale to List1% over listDays on Market46 days5938 Creekside Dr, Troy, MI 48085
- $435,000 Last Sold Price2 beds2 baths1,440 sq ft221 Florence Dr, Troy, MI 48098List Price$435,000Sale to List0% over listDays on Market19 days221 Florence Dr, Troy, MI 48098
See all recently sold homes in Troy.
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Schools in Troy
- Elementary
- Middle
- High
GreatSchools Rating
10/10 Wattles Elementary School Public • K-5 | 417 Students | 6 reviews |
9/10 Bemis Elementary School Public • K-5 | 509 Students | 7 reviews |
9/10 Wass Elementary School Public • K-5 | 406 Students | 13 reviews |
9/10 Harlan Elementary School Public • K-5 | 383 Students | 8 reviews |
9/10 Leonard Elementary School Public • K-5 | 429 Students | 4 reviews |
Climate's impact on Troy housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Troy.
Flood Factor - Minor
Flood Factor
Fire Factor - Moderate
Fire Factor
Wind Factor - Minimal
Wind Factor
Heat Factor - Minor
Heat Factor
Transportation in Troy
Walk Score®
Bike Score®
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