Is Grattan Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Grattan Township has remained a Seller's Market.
Key Takeaway
Grattan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grattan Township, MI
How much do homes in Grattan Township, MI cost?
Median Sold Price
$442,475
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grattan Township have sold for 21.1% more than they did a year ago.
Summary: The median home sold price in Grattan Township was $442,475 in May 2024, up 21.1% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $250K | $342.4K | +37.0% |
| 3 Bedrooms | $261K | $398.7K | +52.8% |
| 4 Bedrooms | $515K | $444.9K | -13.6% |
| 5+ Bedrooms | $695K | $581.2K | -16.4% |
Summary: Grattan Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 52.8%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes decreased by 16.4%.
Median Sold Price Compared To Nearby Cities
| Grattan Township | $365.5K | $442.4K | +21.1% |
| Otisco Township | $257K | $293.5K | +14.2% |
| Oakfield Township | $317.5K | $350K | +10.2% |
| Ada | $580K | $600K | +3.4% |
| Eureka Township | $294K | $275.9K | -6.1% |
Housing Supply in Grattan Township, MI
How many homes are available in Grattan Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The Grattan Township real estate market had 10 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Grattan Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Grattan Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Grattan Township in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Grattan Township, MI
How long does it take to sell a home in Grattan Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 21 Days | +320.0% |
Summary: Homes in Grattan Township had an average of 21 days on market in May 2024, up by 320% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grattan Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Grattan Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
