Is Genoa Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Genoa Township is a seller's market

Buyer's
Market

Difference Since May 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

$401,000

$213/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$42,733(+11.9%)

Key Takeaway

Homes in Genoa Township have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in Genoa Township was $401,000 in May 2024, up 11.9% from last year, and the median price per square foot was $213.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$145K
N/A
2 $240K$253.7K
+5.7%
3 $330K$360K
+9.1%
4 $508.7K$542.5K
+6.6%
5+ $553.2K$1.0M
+97.0%

Summary: Genoa Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 97%.

Median Sold Price Compared To Nearby Cities

Genoa Township
+11.9%
Hamburg Township
+5.5%
Oceola Township
+4.0%
Brighton Township
+3.5%
Brighton
+3.3%

Housing Supply in Genoa Township, MI

How many homes are available in Genoa Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6276+22.6%

Summary: The Genoa Township real estate market had 76 homes for sale in May 2024, a 22.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1617
+6.3%
3 2429
+20.8%
4 1520
+33.3%
5+ 710
+42.9%

Summary: The Genoa Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2413-45.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Genoa Township, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Genoa Township in May 2024, down by 45.8% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% 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

May 2023May 2024CHANGE
19 Days12 Days-34.3%

Summary: Homes in Genoa Township had an average of 12 days on market in May 2024, down by 34.3% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Genoa Township; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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 13 Days Ago

Newest Listings in Genoa Township, MI

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