Is Trenton, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Trenton is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Trenton has remained a Seller's Market.

Key Takeaway

Trenton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Trenton, MI

How much do homes in Trenton, MI cost?

Median Sold Price

$224,949

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$9,866(+4.6%)

Key Takeaway

Homes in Trenton have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Trenton was $224,949 in February 2024, up 4.6% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $85K$90.4K
+6.4%
2 $129K$142.5K
+10.5%
3 $219.9K$227.7K
+3.6%
4 $300K$322.5K
+7.5%
5+ $313.9K$342.5K
+9.1%

Summary: Trenton housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 9.1%.

Median Sold Price Compared To Nearby Cities

Woodhaven
+7.6%
Trenton
+4.6%
Riverview
-4.3%
Grosse Ile Township
-4.7%
Grosse Ile
-4.7%

Housing Supply in Trenton, MI

How many homes are available in Trenton, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4957+16.3%

Summary: The Trenton real estate market had 57 homes for sale in February 2024, a 16.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 12
+100.0%
2 1310
-23.1%
3 2228
+27.3%
4 1317
+30.8%
5+ 00
0.0%

Summary: The Trenton housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Trenton, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Trenton in February 2024, up by 7.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 36% were sold at asking, and 43% were sold over asking.

Days on Market for Trenton, MI

How long does it take to sell a home in Trenton, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
27 Days26 Days-3.4%

Summary: Homes in Trenton had an average of 26 days on market in Feb 2024, down by 3.4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 14 homes were sold in Trenton; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% 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 27 Days Ago

Newest Listings in Trenton, MI

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