Is Grayling, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Grayling was a Seller's Market.
Key Takeaway
Grayling is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Grayling, MI
How much do homes in Grayling, MI cost?
Median Sold Price
$186,250
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Grayling have sold for 35.2% more than they did a year ago.
Summary: The median home sold price in Grayling was $186,250 in March 2024, up 35.2% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.7K | $92.5K | -18.7% |
| 2 Bedrooms | $110K | $150.3K | +36.7% |
| 3 Bedrooms | $160K | $210K | +31.3% |
| 4 Bedrooms | $223.5K | $216.2K | -3.2% |
| 5+ Bedrooms | $139.9K | $408K | +191.5% |
Summary: Grayling housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.7%, 2 bedroom homes increased by 36.7%, 3 bedroom homes increased by 31.3%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 191.5%.
Median Sold Price Compared To Nearby Cities
| Grayling | $137.7K | $186.2K | +35.2% |
| Grayling Charter Township | $153K | $186.2K | +21.7% |
Housing Supply in Grayling, MI
How many homes are available in Grayling, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 35 | 38 | +8.6% |
Summary: The Grayling real estate market had 38 homes for sale in March 2024, a 8.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Grayling 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 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Grayling, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Grayling in March 2024, down by 25.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Grayling, MI
How long does it take to sell a home in Grayling, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 31 Days | +416.7% |
Summary: Homes in Grayling had an average of 31 days on market in Mar 2024, up by 416.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grayling are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Grayling; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved