$1,781 Closing Credit*
$150,000
1,020 SqFt
3 Beds
•1 Full Bath
Brett Phillips, Listing Office: RE/MAX Home Sale Services
Is Garden City, 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, Garden City has remained a Seller's Market.
Key Takeaway
Garden City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Garden City, MI
How much do homes in Garden City, MI cost?
Median Sold Price
$200,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,050(+9.3%)
Key Takeaway
Homes in Garden City have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Garden City was $200,000 in October 2024, up 9.3% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $140K | N/A |
| 2 Bedrooms | $124.5K | $154.5K | +24.1% |
| 3 Bedrooms | $185K | $205K | +10.8% |
| 4 Bedrooms | $202.5K | $195K | -3.7% |
| 5+ Bedrooms | $179K | $255K | +42.5% |
Summary: Garden City 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 increased by 24.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 42.5%.
Median Sold Price Compared To Nearby Cities
| Inkster | $90.6K | $110K | +21.3% |
| Dearborn Heights | $181.3K | $205K | +13.0% |
| Garden City | $182.9K | $200K | +9.3% |
| Westland | $194.8K | $210K | +7.8% |
Housing Supply in Garden City, MI
How many homes are available in Garden City, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 94 | 98 | +4.3% |
Summary: The Garden City real estate market had 98 homes for sale in October 2024, a 4.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 7 | 15 | +114.3% |
| 3 Bedrooms | 75 | 74 | -1.3% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Garden City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 114.3%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garden City, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Garden City in October 2024, down by 15.2% month-over-month. Of the 28 sold homes, 39% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for Garden City, MI
How long does it take to sell a home in Garden City, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 16 Days | +40.4% |
Summary: Homes in Garden City had an average of 16 days on market in Oct 2024, up by 40.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garden City are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in Garden City; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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.