Is Grass Lake, 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, Grass Lake has remained a Seller's Market.
Housing Prices in Grass Lake, MI
How much do homes in Grass Lake, MI cost?
Median Sold Price
$334,900
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Grass Lake was $334,900 in May 2024, down 1.5% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $275.5K | +17.2% |
2 Bedrooms | $181K | $188.5K | +4.1% |
3 Bedrooms | $338.9K | $335K | -1.2% |
4 Bedrooms | $362K | $441K | +21.8% |
5+ Bedrooms | $427.5K | $420K | -1.8% |
Summary: Grass Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.2%, 2 bedroom homes increased by 4.1%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
Grass Lake | $340K | $334.9K | -1.5% |
Grass Lake Charter Township | $340K | $334.8K | -1.5% |
Housing Supply in Grass Lake, MI
How many homes are available in Grass Lake, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 41 | +64.0% |
Summary: The Grass Lake real estate market had 41 homes for sale in May 2024, a 64.0% 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 | 3 | 4 | +33.3% |
3 Bedrooms | 10 | 23 | +130.0% |
4 Bedrooms | 8 | 8 | 0.0% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Grass Lake 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 33.3%, 3 bedroom homes increased by 130%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 11 | +175.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Grass Lake in May 2024, up by 175.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and 18% were sold over asking.
Days on Market for Grass Lake, MI
How long does it take to sell a home in Grass Lake, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
59 Days | 45 Days | -23.2% |
Summary: Homes in Grass Lake had an average of 45 days on market in May 2024, down by 23.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Grass Lake; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.