Is Gaines Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gaines Township is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Gaines Township has remained a Seller's Market.

Key Takeaway

Gaines Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gaines Township, MI

How much do homes in Gaines Township, MI cost?

Median Sold Price

$235,900

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$23,100(-8.9%)

Key Takeaway

Homes in Gaines Township have sold for 8.9% less than they did a year ago.

Summary: The median home sold price in Gaines Township was $235,900 in February 2024, down 8.9% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $242.5K-
N/A
2 $172.5K$190K
+10.1%
3 $250K$230K
-8.0%
4 $346.5K$260K
-25.0%
5+ $323.7K$358.5K
+10.7%

Summary: Gaines Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.1%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 10.7%.

Median Sold Price Compared To Nearby Cities

Swartz Creek
+12.5%
Clayton Charter Township
-3.8%
Gaines Township
-8.9%

Housing Supply in Gaines Township, MI

How many homes are available in Gaines Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2120-4.8%

Summary: The Gaines Township real estate market had 20 homes for sale in February 2024, a 4.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1612
-25.0%
4 13
+200.0%
5+ 12
+100.0%

Summary: The Gaines Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gaines Township, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Gaines Township in February 2024, down by 22.2% month-over-month. Of the 7 sold homes, 14% were sold under asking, 43% were sold at asking, and 43% were sold over asking.

Days on Market for Gaines Township, MI

How long does it take to sell a home in Gaines Township, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
78 Days53 Days-31.9%

Summary: Homes in Gaines Township had an average of 53 days on market in Feb 2024, down by 31.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gaines Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 7 homes were sold in Gaines Township; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Gaines Township, MI

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