Is Gowen, 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, Gowen has remained a Seller's Market.
Key Takeaway
Gowen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gowen, MI
How much do homes in Gowen, MI cost?
Median Sold Price
$250,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gowen have sold for 13.8% less than they did a year ago.
Summary: The median home sold price in Gowen was $250,000 in May 2024, down 13.8% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $133.5K | +11.3% |
| 2 Bedrooms | $195K | $170K | -12.8% |
| 3 Bedrooms | $327.5K | $263K | -19.7% |
| 4 Bedrooms | $320.5K | $369.9K | +15.4% |
| 5+ Bedrooms | $379K | $389.2K | +2.7% |
Summary: Gowen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes decreased by 12.8%, 3 bedroom homes decreased by 19.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Cities
| Trufant | $239.9K | $289.9K | +20.8% |
| Montcalm Township | $219.5K | $250K | +13.9% |
| Oakfield Township | $317.5K | $350K | +10.2% |
| Spencer Township | $289.9K | $293K | +1.1% |
| Gowen | $290K | $250K | -13.8% |
Housing Supply in Gowen, MI
How many homes are available in Gowen, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Summary: The Gowen real estate market had 13 homes for sale in May 2024, a 85.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Gowen 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 50%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gowen, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Gowen in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Gowen, MI
How long does it take to sell a home in Gowen, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 60 Days | +191.9% |
Summary: Homes in Gowen had an average of 60 days on market in May 2024, up by 191.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Gowen has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Gowen; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
