$2,375 Closing Credit*
$199,999
1,364 SqFt
3 Beds
•2 Full Baths
Jacob Worthington, Listing Office: Wentworth Real Estate Group
Is Gaines, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Gaines has remained a Seller's Market.
Key Takeaway
Gaines is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gaines, MI
How much do homes in Gaines, MI cost?
Median Sold Price
$255,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,000(+3.2%)
Key Takeaway
Homes in Gaines have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Gaines was $255,000 in October 2024, up 3.2% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $170.4K | $137.5K | -19.3% |
| 3 Bedrooms | $249K | $252.4K | +1.4% |
| 4 Bedrooms | $249.9K | $262K | +4.8% |
| 5+ Bedrooms | - | $446.5K | N/A |
Summary: Gaines housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.3%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Gaines Township | $239.9K | $254K | +5.9% |
| Gaines | $247K | $255K | +3.2% |
Housing Supply in Gaines, MI
How many homes are available in Gaines, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Summary: The Gaines real estate market had 6 homes for sale in October 2024, a 40.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 3 | -50.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Gaines housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gaines, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Gaines in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Gaines, MI
How long does it take to sell a home in Gaines, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 6 Days | -71.7% |
Summary: Homes in Gaines had an average of 6 days on market in Oct 2024, down by 71.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gaines are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Gaines; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
