Is Groesbeck Area, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Groesbeck Area has remained a Seller's Market.
Housing Prices in Groesbeck Area, MI
How much do homes in Groesbeck Area, MI cost?
Median Sold Price
$235,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Groesbeck Area was $235,000 in April 2024, up 5.6% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $60K | N/A |
2 Bedrooms | $192.5K | $200K | +3.9% |
3 Bedrooms | $213.4K | $223K | +4.5% |
4 Bedrooms | $265.2K | $260K | -2.0% |
5+ Bedrooms | - | $310.5K | N/A |
Summary: Groesbeck Area housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Eastside | $105.5K | $115K | +9.0% |
Groesbeck Area | $222.5K | $235K | +5.6% |
Housing Supply in Groesbeck Area, MI
How many homes are available in Groesbeck Area, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Summary: The Groesbeck Area real estate market had 13 homes for sale in April 2024, a 8.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Groesbeck Area housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Groesbeck Area in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Groesbeck Area, MI
How long does it take to sell a home in Groesbeck Area, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 7 Days | -81.4% |
Summary: Homes in Groesbeck Area had an average of 7 days on market in Apr 2024, down by 81.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Groesbeck Area; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.