$3,264 Closing Credit*
$274,900
1,629 SqFt
4 Beds
•1 Full Bath, 1 Partial
Sean D Delpaz, Listing Office: Pointe of Sail Realty
Is Gibraltar, 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, Gibraltar has remained a Seller's Market.
Key Takeaway
Gibraltar is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gibraltar, MI
How much do homes in Gibraltar, MI cost?
Median Sold Price
$225,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$20,000(-8.2%)
Key Takeaway
Homes in Gibraltar have sold for 8.2% less than they did a year ago.
Summary: The median home sold price in Gibraltar was $225,000 in October 2024, down 8.2% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $165K | $190K | +15.2% |
| 3 Bedrooms | $235K | $235K | 0.0% |
| 4 Bedrooms | $335.5K | $209.9K | -37.4% |
| 5+ Bedrooms | $600K | $482.5K | -19.6% |
Summary: Gibraltar 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 15.2%, 3 bedroom homes did not change, 4 bedroom homes decreased by 37.4%, and 5+ bedroom homes decreased by 19.6%.
Median Sold Price Compared To Nearby Cities
| Brownstown Charter Township | $277.5K | $300.5K | +8.3% |
| Grosse Ile Township | $353.2K | $370K | +4.7% |
| Grosse Ile | $353.2K | $370K | +4.7% |
| Trenton | $225K | $235K | +4.4% |
| Gibraltar | $245K | $225K | -8.2% |
Housing Supply in Gibraltar, MI
How many homes are available in Gibraltar, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 22 | +46.7% |
Summary: The Gibraltar real estate market had 22 homes for sale in October 2024, a 46.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Gibraltar housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gibraltar, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Gibraltar in October 2024, up by 350.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Gibraltar, MI
How long does it take to sell a home in Gibraltar, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 41 Days | +84.1% |
Summary: Homes in Gibraltar had an average of 41 days on market in Oct 2024, up by 84.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gibraltar are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Gibraltar; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
