Is Gerrish 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, Gerrish Township was a Buyer's Market.
Key Takeaway
Gerrish Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Gerrish Township, MI
How much do homes in Gerrish Township, MI cost?
Median Sold Price
$263,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gerrish Township have sold for 36.6% more than they did a year ago.
Summary: The median home sold price in Gerrish Township was $263,000 in May 2024, up 36.6% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $139K | $110K | -20.9% |
| 2 Bedrooms | $168.9K | $165K | -2.3% |
| 3 Bedrooms | $199K | $282.5K | +42.0% |
| 4 Bedrooms | $200K | $461.7K | +130.9% |
| 5+ Bedrooms | $415K | $1.7M | +315.7% |
Summary: Gerrish Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.9%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 42%, 4 bedroom homes increased by 130.9%, and 5+ bedroom homes increased by 315.7%.
Median Sold Price Compared To Nearby Cities
| Gerrish Township | $192.5K | $263K | +36.6% |
| South Branch Township | $171.2K | $167.7K | -2.0% |
| Lyon Township | $210K | $199.4K | -5.0% |
Housing Supply in Gerrish Township, MI
How many homes are available in Gerrish Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 25 | +4.2% |
Summary: The Gerrish Township real estate market had 25 homes for sale in May 2024, a 4.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Gerrish Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 15.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gerrish Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Gerrish Township in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Gerrish Township, MI
How long does it take to sell a home in Gerrish Township, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Gerrish Township has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Gerrish Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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