Is Gaylord, 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, Gaylord was a Seller's Market.
Key Takeaway
Gaylord 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 Gaylord, MI
How much do homes in Gaylord, MI cost?
Median Sold Price
$252,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gaylord have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Gaylord was $252,000 in May 2024, down 3.1% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | $60K | -78.7% |
| 2 Bedrooms | $180K | $205K | +13.9% |
| 3 Bedrooms | $260K | $250K | -3.8% |
| 4 Bedrooms | $299.5K | $319K | +6.5% |
| 5+ Bedrooms | $355K | $306K | -13.8% |
Summary: Gaylord housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 78.7%, 2 bedroom homes increased by 13.9%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 13.8%.
Median Sold Price Compared To Nearby Cities
| Gaylord | $260K | $252K | -3.1% |
| Bagley Township | $269.2K | $248.5K | -7.7% |
Housing Supply in Gaylord, MI
How many homes are available in Gaylord, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 89 | 105 | +18.0% |
Summary: The Gaylord real estate market had 105 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 18 | 18 | 0.0% |
| 3 Bedrooms | 40 | 55 | +37.5% |
| 4 Bedrooms | 22 | 21 | -4.5% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Gaylord 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 remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 17 | -32.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Gaylord, expect to pay close to the asking price. 52.9% of homes here sold near the asking price last month.
Summary: A total of 17 homes were sold or pending in Gaylord in May 2024, down by 32.0% month-over-month. Of the 17 sold homes, 41% were sold under asking, 53% were sold at asking, and 6% were sold over asking.
Days on Market for Gaylord, MI
How long does it take to sell a home in Gaylord, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 31 Days | -5.1% |
Summary: Homes in Gaylord had an average of 31 days on market in May 2024, down by 5.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Gaylord has remained consistent over time.
Summary: During May 2024, 17 homes were sold in Gaylord; 6% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.