Is Gaines 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
Since last year, Gaines Charter Township has remained a Seller's Market.
Housing Prices in Gaines Charter Township, MI
How much do homes in Gaines Charter Township, MI cost?
Median Sold Price
$360,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gaines Charter Township was $360,000 in May 2024, up 6% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $450K | $230K | -48.9% |
2 Bedrooms | $272.5K | $316.7K | +16.2% |
3 Bedrooms | $319.9K | $344.9K | +7.8% |
4 Bedrooms | $379.5K | $405K | +6.7% |
5+ Bedrooms | $485K | $460K | -5.2% |
Summary: Gaines Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.9%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 5.2%.
Median Sold Price Compared To Nearby Cities
Byron Township | $366.2K | $410K | +11.9% |
Gaines Charter Township | $339.5K | $360K | +6.0% |
Caledonia | $370K | $389.9K | +5.4% |
Kentwood | $299.4K | $309.6K | +3.4% |
Byron Center | $416.5K | $429.5K | +3.1% |
Housing Supply in Gaines Charter Township, MI
How many homes are available in Gaines Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
85 | 93 | +9.4% |
Summary: The Gaines Charter Township real estate market had 93 homes for sale in May 2024, a 9.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 14 | 15 | +7.1% |
3 Bedrooms | 38 | 41 | +7.9% |
4 Bedrooms | 22 | 23 | +4.5% |
5+ Bedrooms | 8 | 12 | +50.0% |
Summary: The Gaines Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 31 | +34.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Gaines Charter Township in May 2024, up by 34.8% month-over-month. Of the 31 sold homes, 26% were sold under asking, 19% were sold at asking, and 55% were sold over asking.
Days on Market for Gaines Charter Township, MI
How long does it take to sell a home in Gaines Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
9 Days | 21 Days | +141.2% |
Summary: Homes in Gaines Charter Township had an average of 21 days on market in May 2024, up by 141.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Gaines Charter Township; 84% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.