Is Garden City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garden City is a seller's market

Buyer's
Market

Difference Since April 2021

Since last year, Garden City has remained a Seller's Market.

Key Takeaway

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

How much do homes in Garden City, MI cost?

Median Sold Price

$170,000

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$20,000(+13.3%)

Key Takeaway

Homes in Garden City have sold for 13.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 --
N/A
2 $105K$122K
+16.2%
3 $150.1K$172.6K
+15.0%
4 $168.2K$183K
+8.8%
5+ $225K$236K
+4.9%

Median Sold Price Compared To Nearby Cities

Inkster
+43.3%
Westland
+14.0%
Garden City
+13.3%
Dearborn Heights
+12.9%

How many homes are available in Garden City, MI?

Number of Homes For Sale

Mar 2022Apr 2022%
9288-4.3%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 00
0.0%
2 109
-10.0%
3 7370
-4.1%
4 88
0.0%
5+ 11
0.0%

Number of Homes Sold

Mar 2022Apr 2022%
3628-22.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garden City, you could pay more than the asking price. 82.1% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
17 Days15 Days-11.5%

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Garden City, MI

There are 88 homes are for sale in Garden City, MI real estate market. In April 2022 in Garden City, MI there were 4.3% less homes for sale than in March 2022. In April 2022 median list price was $170,000 and the average listing age was 15 days. This housing market listing prices have changed between March 2022 and April 2022: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties increased by 16.2%, prices of 3 bedrooms properties went up by 15%, 4 bedrooms properties prices increased by 8.8%, 5 bedrooms properties became 4.9% more expensive. This housing market inventory have changed: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes inventory decreased by 10%, volume of 3 bedrooms homes went down by 4.1%, the quantity of 4 bedrooms homes have not changed, number of 5 bedrooms homes remained the same. In April 2022, from all listings sold in Garden City, MI there were more than 23 sold above asking price, over 5 sold below and more than 0 were sold right at the asked price.

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