Is Greenfield, 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, Greenfield was a Seller's Market.
Key Takeaway
Greenfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Greenfield, MI
How much do homes in Greenfield, MI cost?
Median Sold Price
$78,000
$76/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Greenfield have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Greenfield was $78,000 in May 2024, down 2.5% from last year, and the median price per square foot was $76.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $62K | $59.9K | -3.3% |
| 3 Bedrooms | $85K | $80K | -5.9% |
| 4 Bedrooms | $127K | $135K | +6.3% |
| 5+ Bedrooms | - | $107.9K | N/A |
Summary: Greenfield 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 decreased by 3.3%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Upper West | $84.9K | $85K | 0.0% |
| Greenfield | $80K | $78K | -2.5% |
| Pembroke | $117.2K | $110.5K | -5.8% |
| North | $129.9K | $119.9K | -7.7% |
| Bagley | $164.8K | $150K | -9.0% |
Housing Supply in Greenfield, MI
How many homes are available in Greenfield, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 110 | 124 | +12.7% |
Summary: The Greenfield real estate market had 124 homes for sale in May 2024, a 12.7% 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 | 22 | 29 | +31.8% |
| 3 Bedrooms | 81 | 89 | +9.9% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Greenfield 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 31.8%, 3 bedroom homes increased by 9.9%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 19 | -13.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Greenfield, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Greenfield in May 2024, down by 13.6% month-over-month. Of the 19 sold homes, 21% were sold under asking, 26% were sold at asking, and 53% were sold over asking.
Days on Market for Greenfield, MI
How long does it take to sell a home in Greenfield, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 37 Days | -29.8% |
Summary: Homes in Greenfield had an average of 37 days on market in May 2024, down by 29.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Greenfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Greenfield; 79% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% 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.