Is Garfield Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garfield Charter Township is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Garfield Charter Township has remained a Seller's Market.

Key Takeaway

Garfield Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Garfield Charter Township, MI

How much do homes in Garfield Charter Township, MI cost?

Median Sold Price

$399,900

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,150(+8.2%)

Key Takeaway

Homes in Garfield Charter Township have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Garfield Charter Township was $399,900 in November 2024, up 8.2% from last year, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $262K$292K
+11.5%
2 $295.7K$321.5K
+8.7%
3 $375K$380K
+1.3%
4 $496.7K$485K
-2.4%
5+ $663.4K$607.5K
-8.4%

Summary: Garfield Charter Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 8.4%.

Median Sold Price Compared To Nearby Cities

Elmwood Charter Township
+10.0%
Garfield Charter Township
+8.2%
East Bay Township
+6.5%
Traverse City
+4.7%
Long Lake Township
-5.4%

Housing Supply in Garfield Charter Township, MI

How many homes are available in Garfield Charter Township, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
108106-1.9%

Summary: The Garfield Charter Township real estate market had 106 homes for sale in November 2024, a 1.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 3128
-9.7%
3 4646
0.0%
4 2122
+4.8%
5+ 77
0.0%

Summary: The Garfield Charter Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1324+84.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer57%35%9%

Key Takeaway

If you're buying a home in Garfield Charter Township, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Garfield Charter Township in November 2024, up by 84.6% month-over-month. Of the 23 sold homes, 57% were sold under asking, 35% were sold at asking, and 9% were sold over asking.

Days on Market for Garfield Charter Township, MI

How long does it take to sell a home in Garfield Charter Township, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
43 Days108 Days+149.7%

Summary: Homes in Garfield Charter Township had an average of 108 days on market in Nov 2024, up by 149.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times61%26%13%

Key Takeaway

Avg time on Rocket Homes in Garfield Charter Township has remained consistent over time.

Summary: During November 2024, 24 homes were sold in Garfield Charter Township; 13% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Garfield Charter Township, MI

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