Is Garfield Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Garfield Park has remained a Seller's Market.
Key Takeaway
Garfield Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Garfield Park, MI
How much do homes in Garfield Park, MI cost?
Median Sold Price
$136,500
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Garfield Park have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Garfield Park was $136,500 in April 2024, up 13.8% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $111.4K | $130K | +16.6% |
| 3 Bedrooms | $129.8K | $145K | +11.7% |
| 4 Bedrooms | $150K | $109.5K | -27.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Garfield Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.6%, 3 bedroom homes increased by 11.7%, 4 bedroom homes decreased by 27%, and 5+ bedroom homes did not change.
Housing Supply in Garfield Park, MI
How many homes are available in Garfield Park, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Summary: The Garfield Park real estate market had 8 homes for sale in April 2024, a 60.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Garfield Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 300%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Garfield Park, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Garfield Park in April 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Garfield Park, MI
How long does it take to sell a home in Garfield Park, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garfield Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Garfield Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
