Is Gaines Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Gaines Township has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $242.5K | - | N/A |
2 Bedrooms | $172.5K | $190K | +10.1% |
3 Bedrooms | $250K | $230K | -8.0% |
4 Bedrooms | $346.5K | $260K | -25.0% |
5+ Bedrooms | $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 | $199.9K | $225K | +12.5% |
Clayton Charter Township | $234K | $225K | -3.8% |
Gaines Township | $259K | $235.9K | -8.9% |
Housing Supply in Gaines Township, MI
How many homes are available in Gaines Township, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
21 | 20 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 16 | 12 | -25.0% |
4 Bedrooms | 1 | 3 | +200.0% |
5+ Bedrooms | 1 | 2 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
9 | 7 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
78 Days | 53 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
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.