Is Gaines Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$235,450
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gaines Township have sold for 6.8% less than they did a year ago.
Summary: The median home sold price in Gaines Township was $235,450 in March 2024, down 6.8% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | - | N/A |
| 2 Bedrooms | $190K | $192.4K | +1.3% |
| 3 Bedrooms | $246.5K | $235K | -4.7% |
| 4 Bedrooms | $400K | $265K | -33.8% |
| 5+ Bedrooms | $323.7K | $358.5K | +10.7% |
Summary: Gaines Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 33.8%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Swartz Creek | $209.9K | $230K | +9.5% |
| Gaines | $249.9K | $248.4K | -0.6% |
| Clayton Charter Township | $232K | $225K | -3.0% |
| Gaines Township | $252.5K | $235.4K | -6.8% |
Housing Supply in Gaines Township, MI
How many homes are available in Gaines Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Summary: The Gaines Township real estate market had 14 homes for sale in March 2024, a 26.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 12 | 8 | -33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Gaines Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gaines Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Gaines Township in March 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 33 Days | -44.7% |
Summary: Homes in Gaines Township had an average of 33 days on market in Mar 2024, down by 44.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Gaines Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Gaines Township; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
