Farmington, MI Foreclosures
How much do homes sell for in Farmington, MI?
The average home price is currently $334,975.
In Farmington, MI, how many homes are available?
There are currently 26 active home listings available in Farmington.
What’s the average rental cost in Farmington, MI?
The average rental price in Farmington is $1,649.
What is the most expensive home in Farmington?
The most expensive home sold in Farmington had a price of $5,348,876.
What is currently the cheapest priced home in Farmington, MI?
The cheapest home for sale in Farmington is priced at $17,280.
Living in Farmington, MI
Farmington is a charming suburban city located in Oakland County, known for its rich history, vibrant community, and a variety of recreational opportunities. The city boasts well-maintained parks, a bustling downtown area filled with shops and restaurants, and excellent schools, making it an ideal place for families and professionals alike. Located conveniently near major highways, Farmington offers easy access to the greater Detroit area.
Current Market Conditions in Farmington, MI
The real estate market in Farmington, MI, has shown a consistent upward trend over the past year, with home prices rising as demand increases. With a mix of historic homes and modern developments, the area appeals to a diverse range of buyers. The current competitive market also reflects the city's strong community amenities and excellent school district, attracting families and young professionals alike.
Supply remains tight in the Farmington area, leading to multiple offers on desirable properties. Homes that are well maintained and priced competitively are selling quickly, often within days of listing. This trend has fostered a seller's market here, though the influx of new construction aims to balance supply as the city continues to grow.
Home Value Estimator For Farmington, MI
There are currently 3,641 real estate properties
in Farmington, MI,
with a median automated valuation model (AVM) price
of $328,569.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Farmington, MI, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Farmington, MI,
is $334,975.00, with the most expensive house
in Farmington, MI, topping out
at $5,348,876.00 and the cheapest home
in Farmington, MI,
clocking in at $17,280.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Farmington, MI!
Rent Prices
In Farmington, MI
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Farmington, MI, is on
a rollercoaster ride. The
average rent price in Farmington, MI,
is $1,649.00. Indeed, when looking to rent in
Farmington, MI, you can expect to pay as little
as $660.00 or as much
as $3,310.00,
with the average rent median estimated to
be $1,640.00. The good news is that finding
an affordable and desirable property to rent in Farmington, MI
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
