Is Geddes Lake, 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, Geddes Lake has remained a Seller's Market.
Key Takeaway
Geddes Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Geddes Lake, MI
How much do homes in Geddes Lake, MI cost?
Median Sold Price
$300,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Geddes Lake have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Geddes Lake was $300,000 in March 2024, up 13.6% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255K | $283K | +11.0% |
| 3 Bedrooms | $330K | $339K | +2.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Geddes Lake 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 11%, 3 bedroom homes increased by 2.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Geddes Lake | $264K | $300K | +13.6% |
| Northeast | $492K | $534K | +8.5% |
| Narrow Gauge Woods | $795K | $850K | +6.9% |
| King | $647.5K | $657.5K | +1.5% |
Housing Supply in Geddes Lake, MI
How many homes are available in Geddes Lake, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Summary: The Geddes Lake real estate market had 7 homes for sale in March 2024, a 16.7% increase 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Geddes Lake 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 20%, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Geddes Lake, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Geddes Lake in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Geddes Lake, MI
How long does it take to sell a home in Geddes Lake, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 13 Days | 47 Days | +264.1% |
Summary: Homes in Geddes Lake had an average of 47 days on market in Mar 2024, up by 264.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Geddes Lake has remained consistent over time.
Summary: During March 2024, 3 homes were sold in Geddes Lake; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
