Is Garden City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Garden City has remained a Seller's Market.
Housing Prices in Garden City, MI
How much do homes in Garden City, MI cost?
Median Sold Price
$190,166
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Garden City was $190,166 in April 2024, up 8.7% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $139K | $142.5K | +2.5% |
3 Bedrooms | $179.5K | $195.5K | +8.9% |
4 Bedrooms | $207K | $186K | -10.1% |
5+ Bedrooms | $179K | $245K | +36.9% |
Summary: Garden City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes decreased by 10.1%, and 5+ bedroom homes increased by 36.9%.
Median Sold Price Compared To Nearby Cities
Inkster | $88K | $100K | +13.6% |
Dearborn Heights | $169.9K | $191.5K | +12.7% |
Garden City | $175K | $190.1K | +8.7% |
Westland | $190K | $200K | +5.3% |
Housing Supply in Garden City, MI
How many homes are available in Garden City, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
76 | 75 | -1.3% |
Summary: The Garden City real estate market had 75 homes for sale in April 2024, a 1.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 5 | -50.0% |
3 Bedrooms | 53 | 51 | -3.8% |
4 Bedrooms | 11 | 18 | +63.6% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Garden City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 63.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 21 | -44.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Garden City in April 2024, down by 44.7% month-over-month. Of the 21 sold homes, 38% were sold under asking, 14% were sold at asking, and 48% were sold over asking.
Days on Market for Garden City, MI
How long does it take to sell a home in Garden City, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
95 Days | 13 Days | -86.1% |
Summary: Homes in Garden City had an average of 13 days on market in Apr 2024, down by 86.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in Garden City; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.