Is Genesee County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Genesee County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Genesee County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Genesee County, MI

How much do homes in Genesee County, MI cost?

Median Sold Price

$195,030

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,313(+2.8%)

Key Takeaway

Homes in Genesee County have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Genesee County was $195,030 in February 2024, up 2.8% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $65.7K$43K
-34.6%
2 $124.9K$120.2K
-3.8%
3 $180.1K$188.4K
+4.6%
4 $270.1K$270.3K
0.1%
5+ $335K$323.5K
-3.4%

Summary: Genesee County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.6%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 3.4%.

Median Sold Price Compared To Nearby Counties

Saginaw County
+8.2%
Livingston County
+6.4%
Lapeer County
+5.3%
Genesee County
+2.8%
Shiawassee County
+1.4%

Housing Supply in Genesee County, MI

How many homes are available in Genesee County, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,2711,239-2.5%

Summary: The Genesee County real estate market had 1,239 homes for sale in February 2024, a 2.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 98
-11.1%
2 276262
-5.1%
3 670666
-0.6%
4 244238
-2.5%
5+ 7265
-9.7%

Summary: The Genesee County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 9.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
329273-17.0%

Asking Price vs. Sold Price

136 Homes Were Sold
Under Asking

58 Homes Were Sold
At Asking

79 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Genesee County, you may be able to get a good deal. 49.8% of homes here sold below asking price last month.

Summary: A total of 273 homes were sold or pending in Genesee County in February 2024, down by 17.0% month-over-month. Of the 273 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.

Days on Market for Genesee County, MI

How long does it take to sell a home in Genesee County, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
64 Days41 Days-34.8%

Summary: Homes in Genesee County had an average of 41 days on market in Feb 2024, down by 34.8% compared to last year.

Breakdown of Home Sale Times

142 Homes Were Sold
Under 30 Days

103 Homes Were Sold
In 30 - 90 Days

28 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 273 homes were sold in Genesee County; 52% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

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

Report Updated 28 Days Ago

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