Is Grand Ledge, 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, Grand Ledge has remained a Seller's Market.
Key Takeaway
Grand Ledge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grand Ledge, MI
How much do homes in Grand Ledge, MI cost?
Median Sold Price
$300,050
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grand Ledge have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in Grand Ledge was $300,050 in May 2024, up 12.4% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $51K | -27.1% |
| 2 Bedrooms | $159.9K | $186K | +16.3% |
| 3 Bedrooms | $243.5K | $269.9K | +10.8% |
| 4 Bedrooms | $337.4K | $360K | +6.7% |
| 5+ Bedrooms | $422.5K | $400K | -5.3% |
Summary: Grand Ledge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.1%, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Grand Ledge | $267K | $300K | +12.4% |
| Watertown Charter Township | $348K | $380K | +9.2% |
Housing Supply in Grand Ledge, MI
How many homes are available in Grand Ledge, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 61 | +13.0% |
Summary: The Grand Ledge real estate market had 61 homes for sale in May 2024, a 13.0% 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 | 9 | 8 | -11.1% |
| 3 Bedrooms | 30 | 30 | 0.0% |
| 4 Bedrooms | 10 | 20 | +100.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Grand Ledge 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 decreased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Ledge, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Grand Ledge in May 2024, down by 4.3% month-over-month. Of the 22 sold homes, 23% were sold under asking, 18% were sold at asking, and 59% were sold over asking.
Days on Market for Grand Ledge, MI
How long does it take to sell a home in Grand Ledge, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 20 Days | -13.3% |
Summary: Homes in Grand Ledge had an average of 20 days on market in May 2024, down by 13.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Grand Ledge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Grand Ledge; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.