Is Genoa Township, 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, Genoa Township has remained a Seller's Market.
Housing Prices in Genoa Township, MI
How much do homes in Genoa Township, MI cost?
Median Sold Price
$401,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Genoa Township was $401,000 in May 2024, up 11.9% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $145K | N/A |
2 Bedrooms | $240K | $253.7K | +5.7% |
3 Bedrooms | $330K | $360K | +9.1% |
4 Bedrooms | $508.7K | $542.5K | +6.6% |
5+ Bedrooms | $553.2K | $1.0M | +97.0% |
Summary: Genoa Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 97%.
Median Sold Price Compared To Nearby Cities
Genoa Township | $358.2K | $401K | +11.9% |
Hamburg Township | $385K | $406K | +5.5% |
Oceola Township | $375.5K | $390.5K | +4.0% |
Brighton Township | $400K | $414K | +3.5% |
Brighton | $397K | $410.2K | +3.3% |
Housing Supply in Genoa Township, MI
How many homes are available in Genoa Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 76 | +22.6% |
Summary: The Genoa Township real estate market had 76 homes for sale in May 2024, a 22.6% 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 | 16 | 17 | +6.3% |
3 Bedrooms | 24 | 29 | +20.8% |
4 Bedrooms | 15 | 20 | +33.3% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Genoa Township 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 6.3%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 13 | -45.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Genoa Township in May 2024, down by 45.8% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% were sold over asking.
Days on Market for Genoa Township, MI
How long does it take to sell a home in Genoa Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 12 Days | -34.3% |
Summary: Homes in Genoa Township had an average of 12 days on market in May 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Genoa Township; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.