Is Garfield Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Garfield Charter Township was a Buyer's Market.
Housing Prices in Garfield Charter Township, MI
How much do homes in Garfield Charter Township, MI cost?
Median Sold Price
$365,000
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Garfield Charter Township was $365,000 in May 2024, down 2.7% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $308.5K | +16.4% |
2 Bedrooms | $340K | $310K | -8.8% |
3 Bedrooms | $369.3K | $355.5K | -3.7% |
4 Bedrooms | $484K | $483.5K | -0.1% |
5+ Bedrooms | $502.5K | $607.5K | +20.9% |
Summary: Garfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 20.9%.
Median Sold Price Compared To Nearby Cities
Traverse City | $428.8K | $425K | -0.9% |
Garfield Charter Township | $375K | $365K | -2.7% |
Long Lake Township | $475K | $459.2K | -3.3% |
East Bay Township | $429.8K | $370K | -13.9% |
Elmwood Charter Township | $552.5K | $471K | -14.8% |
Housing Supply in Garfield Charter Township, MI
How many homes are available in Garfield Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
70 | 93 | +32.9% |
Summary: The Garfield Charter Township real estate market had 93 homes for sale in May 2024, a 32.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 16 | 19 | +18.8% |
3 Bedrooms | 32 | 38 | +18.8% |
4 Bedrooms | 14 | 26 | +85.7% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Garfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 23 | +43.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Garfield Charter Township in May 2024, up by 43.8% month-over-month. Of the 22 sold homes, 41% were sold under asking, 45% were sold at asking, and 14% were sold over asking.
Days on Market for Garfield Charter Township, MI
How long does it take to sell a home in Garfield Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
69 Days | 46 Days | -33.3% |
Summary: Homes in Garfield Charter Township had an average of 46 days on market in May 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Garfield Charter Township; 35% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.