Is Green Oak 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, Green Oak Township was a Neutral Market.
Key Takeaway
Green Oak Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Green Oak Township, MI
How much do homes in Green Oak Township, MI cost?
Median Sold Price
$430,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Green Oak Township have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Green Oak Township was $430,000 in May 2024, up 7.8% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $182.5K | $176K | -3.6% |
| 2 Bedrooms | $186K | $194K | +4.3% |
| 3 Bedrooms | $379.9K | $392.8K | +3.4% |
| 4 Bedrooms | $485K | $525K | +8.2% |
| 5+ Bedrooms | $610K | $739.9K | +21.3% |
Summary: Green Oak Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.6%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 21.3%.
Median Sold Price Compared To Nearby Cities
| Green Oak Township | $399K | $430K | +7.8% |
| Northfield Township | $345K | $365K | +5.8% |
| Whitmore Lake | $360K | $380K | +5.6% |
| Lyon Charter Township | $531.7K | $550K | +3.4% |
| South Lyon | $446.3K | $443.3K | -0.7% |
Housing Supply in Green Oak Township, MI
How many homes are available in Green Oak Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 81 | 76 | -6.2% |
Summary: The Green Oak Township real estate market had 76 homes for sale in May 2024, a 6.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 31 | 29 | -6.5% |
| 4 Bedrooms | 28 | 29 | +3.6% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Green Oak Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 15 | -46.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Green Oak Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Green Oak Township in May 2024, down by 46.4% month-over-month. Of the 15 sold homes, 67% were sold under asking, 13% were sold at asking, and 20% were sold over asking.
Days on Market for Green Oak Township, MI
How long does it take to sell a home in Green Oak Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 140 Days | 46 Days | -66.8% |
Summary: Homes in Green Oak Township had an average of 46 days on market in May 2024, down by 66.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Green Oak Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Green Oak Township; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.