Is Grand Traverse County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Grand Traverse County has remained a Seller's Market.
Housing Prices in Grand Traverse County, MI
How much do homes in Grand Traverse County, MI cost?
Median Sold Price
$365,000
$242/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Grand Traverse County was $365,000 in March 2024, up 1.1% from last month, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $307.5K | $270K | -12.2% |
2 Bedrooms | $299K | $292.4K | -2.2% |
3 Bedrooms | $329.4K | $383.5K | +16.4% |
4 Bedrooms | $460K | $502.5K | +9.2% |
5+ Bedrooms | $1.0M | $615K | -43.6% |
Summary: Grand Traverse County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes decreased by 43.6%.
Median Sold Price Compared To Nearby Counties
Leelanau County | $581.7K | $634.5K | +9.1% |
Grand Traverse County | $361K | $365K | +1.1% |
Housing Supply in Grand Traverse County, MI
How many homes are available in Grand Traverse County, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
359 | 404 | +12.5% |
Summary: The Grand Traverse County real estate market had 404 homes for sale in March 2024, a 12.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 26 | +36.8% |
2 Bedrooms | 82 | 98 | +19.5% |
3 Bedrooms | 146 | 160 | +9.6% |
4 Bedrooms | 93 | 95 | +2.2% |
5+ Bedrooms | 19 | 25 | +31.6% |
Summary: The Grand Traverse County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.8%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 31.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 77 | +11.6% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Grand Traverse County in March 2024, up by 11.6% month-over-month. Of the 77 sold homes, 38% were sold under asking, 30% were sold at asking, and 32% were sold over asking.
Days on Market for Grand Traverse County, MI
How long does it take to sell a home in Grand Traverse County, MI?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 Days | 61 Days | -17.8% |
Summary: Homes in Grand Traverse County had an average of 61 days on market in Mar 2024, down by 17.8% compared to last month.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During March 2024, 77 homes were sold in Grand Traverse County; 32% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.