Is Fort Gratiot, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Fort Gratiot has remained a Seller's Market.
Housing Prices in Fort Gratiot, MI
How much do homes in Fort Gratiot, MI cost?
Median Sold Price
$256,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Fort Gratiot was $256,000 in May 2024, up 13.8% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.9K | - | N/A |
2 Bedrooms | $185.5K | $199.5K | +7.5% |
3 Bedrooms | $222K | $252K | +13.5% |
4 Bedrooms | $299.9K | $348K | +16.0% |
5+ Bedrooms | $390K | $299K | -23.3% |
Summary: Fort Gratiot housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 23.3%.
Median Sold Price Compared To Nearby Cities
Fort Gratiot | $225K | $256K | +13.8% |
Fort Gratiot Charter Township | $225K | $252K | +12.0% |
Port Huron Charter Township | $145K | $155K | +6.9% |
Port Huron | $145.7K | $155K | +6.3% |
Clyde Township | $275K | $249.9K | -9.1% |
Housing Supply in Fort Gratiot, MI
How many homes are available in Fort Gratiot, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 38 | +26.7% |
Summary: The Fort Gratiot real estate market had 38 homes for sale in May 2024, a 26.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 2 | -50.0% |
3 Bedrooms | 15 | 22 | +46.7% |
4 Bedrooms | 11 | 12 | +9.1% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Fort Gratiot housing inventory by bedroom type for May 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 46.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 12 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Fort Gratiot in May 2024, up by 33.3% month-over-month. Of the 12 sold homes, 17% were sold under asking, 25% were sold at asking, and 58% were sold over asking.
Days on Market for Fort Gratiot, MI
How long does it take to sell a home in Fort Gratiot, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 41 Days | +92.9% |
Summary: Homes in Fort Gratiot had an average of 41 days on market in May 2024, up by 92.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Fort Gratiot; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.