Is Grand Traverse County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Grand Traverse County has remained a Seller's Market.
Housing Prices in Grand Traverse County, MI
How much do homes in Grand Traverse County, MI cost?
Median Sold Price
$392,500
$278/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Grand Traverse County was $392,500 in April 2024, up 3.8% from last month, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $281K | $246.5K | -12.3% |
2 Bedrooms | $299.9K | $319K | +6.4% |
3 Bedrooms | $395K | $398.6K | +0.9% |
4 Bedrooms | $499K | $527.5K | +5.7% |
5+ Bedrooms | $615K | $720K | +17.1% |
Summary: Grand Traverse County housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 12.3%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Counties
Leelanau County | $592.2K | $832.5K | +40.6% |
Grand Traverse County | $378K | $392.5K | +3.8% |
Housing Supply in Grand Traverse County, MI
How many homes are available in Grand Traverse County, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
387 | 469 | +21.2% |
Summary: The Grand Traverse County real estate market had 469 homes for sale in April 2024, a 21.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 23 | 20 | -13.0% |
2 Bedrooms | 96 | 110 | +14.6% |
3 Bedrooms | 155 | 211 | +36.1% |
4 Bedrooms | 89 | 99 | +11.2% |
5+ Bedrooms | 24 | 29 | +20.8% |
Summary: The Grand Traverse County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 36.1%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 20.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
81 | 102 | +25.9% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 102 homes were sold or pending in Grand Traverse County in April 2024, up by 25.9% month-over-month. Of the 97 sold homes, 45% were sold under asking, 29% were sold at asking, and 26% were sold over asking.
Days on Market for Grand Traverse County, MI
How long does it take to sell a home in Grand Traverse County, MI?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
61 Days | 68 Days | +12.3% |
Summary: Homes in Grand Traverse County had an average of 68 days on market in Apr 2024, up by 12.3% compared to last month.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
58 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Summary: During April 2024, 102 homes were sold in Grand Traverse County; 24% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.