Is Genoa 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, Genoa Township has remained a Seller's Market.
Key Takeaway
Genoa Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Genoa Township, MI
How much do homes in Genoa Township, MI cost?
Median Sold Price
$401,250
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Genoa Township have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Genoa Township was $401,250 in March 2024, up 11.5% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $230K | $255.7K | +11.2% |
| 3 Bedrooms | $335K | $360K | +7.5% |
| 4 Bedrooms | $486.5K | $520K | +6.9% |
| 5+ Bedrooms | $541.1K | $790.5K | +46.1% |
Summary: Genoa 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 11.2%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 46.1%.
Median Sold Price Compared To Nearby Cities
| Brighton | $358.2K | $415K | +15.8% |
| Genoa Township | $360K | $401.2K | +11.5% |
| Brighton Township | $382.9K | $415K | +8.4% |
| Hamburg Township | $381K | $406.6K | +6.7% |
| Oceola Township | $377K | $390.5K | +3.6% |
Housing Supply in Genoa Township, MI
How many homes are available in Genoa Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 55 | +17.0% |
Summary: The Genoa Township real estate market had 55 homes for sale in March 2024, a 17.0% 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 | 10 | 15 | +50.0% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Genoa 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 increased by 50%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 12 | -29.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Genoa Township, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Genoa Township in March 2024, down by 29.4% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for Genoa Township, MI
How long does it take to sell a home in Genoa Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 5 Days | 32 Days | +556.7% |
Summary: Homes in Genoa Township had an average of 32 days on market in Mar 2024, up by 556.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Genoa Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Genoa Township; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
