Troy, MI Housing Market
The Troy housing market is very competitive. Homes in Troy receive 3 offers on average and sell in around 17 days. The median sale price of a home in Troy was $378K last month, down 1.8% since last year. The median sale price per square foot in Troy is $234, up 12.5% since last year.
Troy Housing Market Trends
In March 2024, Troy home prices were down 1.8% compared to last year, selling for a median price of $378K. On average, homes in Troy sell after 17 days on the market compared to 20 days last year. There were 51 homes sold in March this year, down from 58 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
- 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 1% above list price and go pending in around 16 days.
- Hot homescan sell for about 5% above list price and go pending in around 6 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
- Some homes get multiple offers.
- The average homes sell for about 1% below list price and go pending in around 22 days.
- Hot homescan sell for about 1% above list price and go pending in around 7 days.
Troy Migration & Relocation Trends
- Across the nation, 0.73% of homebuyers searched to move into Troy from outside metros.
- Los Angeles homebuyers searched to move into Troy more than any other metro followed by Washington and New York.
- 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 Saginaw.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 369 | ||
2 | 345 | ||
3 | 322 | ||
4 | 287 | ||
5 | 205 | ||
6 | 137 | ||
7 | 94 | ||
8 | 92 | ||
9 | 79 | ||
10 | 68 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 258 | ||
2 | 183 | ||
3 | 145 | ||
4 | 141 | ||
5 | 113 | ||
6 | 112 | ||
7 | 103 | ||
8 | 81 | ||
9 | 81 | ||
10 | 69 |
Home offer insights for Troy
Recent offers
View houses in Troy that sold recently
Recently sold homes
- $800,000 Last Sold Price4 beds2.5 baths3,250 sq ft1567 N Lake Dr, Troy, MI 48083List Price$799,900Sale to List0% over listDays on Market21 days1567 N Lake Dr, Troy, MI 48083
- $1,080,000 Last Sold Price4 beds5 baths4,164 sq ft5622 Springbrook Dr, Troy, MI 48098List Price$985,000Sale to List10% over listDays on Market21 days5622 Springbrook Dr, Troy, MI 48098
- $530,000 Last Sold Price4 beds2.5 baths2,143 sq ft3683 Fernleigh Dr, Troy, MI 48083List Price$400,000Sale to List32% over listDays on Market13 days3683 Fernleigh Dr, Troy, MI 48083
- $1,095,000 Last Sold Price5 beds4 baths2,900 sq ft2751 Bolingbroke Dr, Troy, MI 48084List Price$1,095,000Sale to List0% over listDays on Market157 days2751 Bolingbroke Dr, Troy, MI 48084
- $466,000 Last Sold Price4 beds2.5 baths2,184 sq ft1047 E Vermont Dr, Troy, MI 48083List Price$479,000Sale to List3% under listDays on Market66 days1047 E Vermont Dr, Troy, MI 48083
- $450,000 Last Sold Price3 beds3 baths1,500 sq ft50 Paragon Dr, Troy, MI 48098(248) 764-0374List Price$420,000Sale to List7% over listDays on Market25 days50 Paragon Dr, Troy, MI 48098
- $315,000 Last Sold Price3 beds2 baths1,688 sq ft2326 London Dr, Troy, MI 48085(586) 438-3038List Price$299,900Sale to List5% over listDays on Market18 days2326 London Dr, Troy, MI 48085
- $325,000 Last Sold Price3 beds2 baths1,334 sq ft4165 Crooks Rd, Troy, MI 48098List Price$349,900Sale to List7% under listDays on Market21 days4165 Crooks Rd, Troy, MI 48098
See all recently sold homes in Troy.
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Schools in Troy
- Elementary
- Middle
- High
GreatSchools Rating
10/10 Schroeder Elementary School Public • K-5 | 528 Students | 7 reviews |
10/10 Hamilton Elementary School Public • K-5 | 517 Students | 9 reviews |
9/10 Hill Elementary School Public • K-5 | 346 Students | 9 reviews |
9/10 Wass Elementary School Public • K-5 | 421 Students | 13 reviews |
9/10 Martell Elementary School Public • K-5 | 441 Students | 15 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
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Wind Factor - Minimal
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Heat Factor - Minor
Heat Factor
Transportation in Troy
Walk Score®
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