Is Grayling, 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, Grayling has remained a Seller's Market.
Key Takeaway
Grayling is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grayling, MI
How much do homes in Grayling, MI cost?
Median Sold Price
$191,250
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grayling have sold for 31.9% more than they did a year ago.
Summary: The median home sold price in Grayling was $191,250 in May 2024, up 31.9% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $75K | -42.3% |
| 2 Bedrooms | $122.4K | $165K | +34.7% |
| 3 Bedrooms | $157.2K | $213K | +35.5% |
| 4 Bedrooms | $306.5K | $195K | -36.4% |
| 5+ Bedrooms | $277.2K | $300K | +8.2% |
Summary: Grayling housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.3%, 2 bedroom homes increased by 34.7%, 3 bedroom homes increased by 35.5%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Grayling | $145K | $191.2K | +31.9% |
| Grayling Charter Township | $150K | $191.2K | +27.5% |
Housing Supply in Grayling, MI
How many homes are available in Grayling, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 56 | +24.4% |
Summary: The Grayling real estate market had 56 homes for sale in May 2024, a 24.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 21 | 28 | +33.3% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Grayling 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 decreased by 7.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Grayling, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Grayling in May 2024, the same as the previous month. Of the 13 sold homes, 69% were sold under asking, 23% were sold at asking, and 8% were sold over asking.
Days on Market for Grayling, MI
How long does it take to sell a home in Grayling, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 16 Days | -25.8% |
Summary: Homes in Grayling had an average of 16 days on market in May 2024, down by 25.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grayling are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Grayling; 15% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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