Is Grandale, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Grandale was a Seller's Market.
Housing Prices in Grandale, MI
How much do homes in Grandale, MI cost?
Median Sold Price
$57,250
$52/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Grandale was $57,250 in May 2024, up 30.1% from last year, and the median price per square foot was $52.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $27.7K | $50K | +80.2% |
3 Bedrooms | $48K | $59K | +22.9% |
4 Bedrooms | $95K | $57.5K | -39.5% |
5+ Bedrooms | - | - | N/A |
Summary: Grandale 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 80.2%, 3 bedroom homes increased by 22.9%, 4 bedroom homes decreased by 39.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Grandale | $44K | $57.2K | +30.1% |
West Central | $55.4K | $65K | +17.2% |
Grandale / Brooks | $55K | $60K | +9.1% |
Fiskorn | $50.7K | $50K | -1.5% |
Grandmont | $88K | $85K | -3.4% |
Housing Supply in Grandale, MI
How many homes are available in Grandale, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 38 | +15.2% |
Summary: The Grandale real estate market had 38 homes for sale in May 2024, a 15.2% 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 | 10 | 11 | +10.0% |
3 Bedrooms | 20 | 25 | +25.0% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Grandale 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 increased by 10%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Grandale in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Grandale, MI
How long does it take to sell a home in Grandale, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 20 Days | +15.4% |
Summary: Homes in Grandale had an average of 20 days on market in May 2024, up by 15.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Grandale; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.