Is Trenton, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
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
$225,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Trenton have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Trenton was $225,000 in April 2024, up 4.3% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.7K | $95.1K | +19.3% |
| 2 Bedrooms | $135K | $142.5K | +5.6% |
| 3 Bedrooms | $220K | $231K | +5.0% |
| 4 Bedrooms | $302.9K | $310K | +2.3% |
| 5+ Bedrooms | $328.4K | $350K | +6.5% |
Summary: Trenton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Woodhaven | $235K | $255.9K | +8.9% |
| Trenton | $215.7K | $225K | +4.3% |
| Grosse Ile Township | $365K | $350K | -4.1% |
| Grosse Ile | $365K | $350K | -4.1% |
| Riverview | $205K | $190K | -7.3% |
Housing Supply in Trenton, MI
How many homes are available in Trenton, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 63 | 67 | +6.3% |
Summary: The Trenton real estate market had 67 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 11 | 18 | +63.6% |
| 3 Bedrooms | 31 | 28 | -9.7% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Trenton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 63.6%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 20 | +42.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Trenton, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Trenton in April 2024, up by 42.9% month-over-month. Of the 20 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.
Days on Market for Trenton, MI
How long does it take to sell a home in Trenton, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 68 Days | 19 Days | -71.0% |
Summary: Homes in Trenton had an average of 19 days on market in Apr 2024, down by 71% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Trenton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 20 homes were sold in Trenton; 90% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
