Photo: Lrgjr72 · CC BY-SA 4.0868 homes sold in Troy in the last year, at a typical $439K
About one sale in 4 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Troy homes are listed.
Every place Troy homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Troy.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
A quarter of Troy’s sales are condos, at $149K less than a house
665 houses and 194 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 665 sold in 12 months
- Per square foot
- $220MI $172
- Days to sell
- 18
- Sold over asking
- 43%
- Listings with a price cut
- 28%
typical sale · 194 sold in 12 months
- Per square foot
- $206MI $190
- Days to sell
- 37
- Sold over asking
- 25%
- Listings with a price cut
- 23%
Multi-family (2–4 units): 2 sold, typical $478K
Townhouses: 7 sold, typical $439K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 1.7 times the 2016 price
868 sales in the last year, against 1,328 in 2021 and a low of 805 in 2023. The typical sale went from $266K in 2016 to $439K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $450K buys in Troy
Check a listing against what Troy homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Troy are more common than before the pandemic, but a quarter fewer homes come up for sale
We read every month of Troy’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 868 sales.
If you’re buying in Troy
- Shop in August. It brings about 125 new listings a month, close to the busiest month, with fewer bidding wars (33% over asking).
- Less room to haggle. Only 26% of listings cut their price, against 36% before the pandemic.
- Bid near asking. Buyers paid 99.7% of the list price on average; 39% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Summer brings the homes; spring brings the bidding wars
June has the most new listings (about 151 a month), but May is the most competitive: 45% of May sales close over asking. July and August offer nearly as much choice with fewer homes bid up (35%). January has the least competition (22%) but only about 65 new listings.
Averages for each calendar month, 2015 on.
Nearly as heated as 2021, and hotter than Michigan
| Troy now | 2017–19 | 2021 peak | MI now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 39% | 24% | 46% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 52% | 42% | 55% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 26% | 36% | 23% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 99.7% | 97.9% | 100.3% | 98.4% |
| Days to sellMedian days from listing to contract | 22 | 21 | 17 | 33 |
147 homes for sale on a typical day
That’s 1.6 times the 2023 low (93), 27% fewer than in 2017–19 and well under 2014’s 397.
1 in 4 listings has cut its price
26% in the last year, against 36% in 2017–19 and 28% across Michigan.
Since 2019, houses are up 46%, condos 54%
A house typically sold for $474K in the last year (665 sales), a condo for $325K (194).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Troy ranks 44th of 194 busy Michigan markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Troy is one of the state’s hottest markets.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Troy home costs about $2,749 a month
Price: Troy’s typical sale, last 12 months. Property tax at Troy’s 1.3% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Troy is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 47.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $439K home, about $5,500 a year.
Taxes vs. neighborsSchools
The schools grade for Troy, from test results, graduation and how much students grow.
Schools in TroyCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Rochester Hills and Madison Heights sell for less a square foot; Birmingham and Bloomfield Hills for far more
The busier markets within 25 miles of Troy, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Royal Oak | 1,134 | $364K | $259 | 35% | 27 |
| Troy | 868 | $439K | $217 | 39% | 22 |
| Rochester Hills | 798 | $456K | $205 | 38% | 22 |
| Birmingham | 426 | $857K | $359 | 23% | 29 |
| Madison Heights | 363 | $224K | $187 | 42% | 23 |
| Clawson | 167 | $311K | $228 | 45% | 19 |
| Bloomfield Hills | 82 | $1.2M | $272 | 23% | 36 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Troy, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Troy. People who follow the town see it, and so do people comparing Troy with their own town. No commission, no listing fee.
Questions about buying a home in Troy
What do homes sell for in Troy, MI?
868 homes sold in the year to May 2026 at a typical $439K, $217 a square foot. Houses sold for about $474K, condos for about $325K.
Is Troy a buyer’s or seller’s market?
A seller’s market: 147 homes were for sale in May 2026 and 81 sold, about 1.8 months of supply. Buyers paid 99.7% of asking on average, and 26% of listings cut their price.
When is the best time to buy in Troy?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Troy?
About 1.3% of a home’s value a year. On a $439K home that’s near $5,500.
Where can I see homes for sale in Troy?
Zillow, Redfin, Realtor.com and Homes.com all carry Troy’s MLS listings; the search links above open each one filtered to Troy.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).