Is Groveland Township, 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, Groveland Township was a Buyer's Market.
Key Takeaway
Groveland Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Groveland Township, MI
How much do homes in Groveland Township, MI cost?
Median Sold Price
$426,500
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Groveland Township have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Groveland Township was $426,500 in March 2024, up 9.4% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $281K | $240K | -14.6% |
| 3 Bedrooms | $352.5K | $425K | +20.6% |
| 4 Bedrooms | $410K | $444.9K | +8.5% |
| 5+ Bedrooms | $495K | $1.3M | +173.1% |
Summary: Groveland 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 decreased by 14.6%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 173.1%.
Median Sold Price Compared To Nearby Cities
| Groveland Township | $390K | $426.5K | +9.4% |
| Ortonville | $354.5K | $371K | +4.7% |
| Davisburg | $401.4K | $390K | -2.9% |
| Springfield Charter Township | $390K | $369.9K | -5.2% |
| Atlas Township | $325K | $306K | -5.8% |
Housing Supply in Groveland Township, MI
How many homes are available in Groveland Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Summary: The Groveland Township real estate market had 11 homes for sale in March 2024, a 31.3% decrease 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 3 | -62.5% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Groveland 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 100%, 3 bedroom homes decreased by 62.5%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
3 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 Groveland Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Groveland Township in March 2024, down by 42.9% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Groveland Township, MI
How long does it take to sell a home in Groveland Township, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Groveland Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Groveland Township; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
