Is Trenton, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
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
$221,966
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Trenton have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Trenton was $221,966 in November 2023, up 12.8% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76.5K | $89K | +16.3% |
| 2 Bedrooms | $125K | $140K | +12.0% |
| 3 Bedrooms | $210K | $225K | +7.1% |
| 4 Bedrooms | $299.9K | $322.5K | +7.5% |
| 5+ Bedrooms | $313.9K | $335K | +6.7% |
Summary: Trenton housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Cities
| Trenton | $196.8K | $221.9K | +12.8% |
| Woodhaven | $235.9K | $246.5K | +4.5% |
| Riverview | $200K | $194.9K | -2.5% |
| Grosse Ile Township | $380K | $349.9K | -7.9% |
| Grosse Ile | $380K | $349.9K | -7.9% |
Housing Supply in Trenton, MI
How many homes are available in Trenton, MI?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 50 | 51 | +2.0% |
Summary: The Trenton real estate market had 51 homes for sale in November 2023, a 2.0% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 22 | 33 | +50.0% |
| 4 Bedrooms | 14 | 7 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Trenton housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Trenton, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Trenton in November 2023, up by 6.3% month-over-month. Of the 17 sold homes, 35% were sold under asking, 12% were sold at asking, and 53% were sold over asking.
Days on Market for Trenton, MI
How long does it take to sell a home in Trenton, MI?
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Trenton are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 17 homes were sold in Trenton; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.