$2,730 Closing Credit*
$229,900
1,225 SqFt
3 Beds
•1 Full Bath, 1 Partial
Selma Pesch, Listing Office: EXP Z Real Estate
Is Gibraltar, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$218,450
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$36,550(-14.3%)
Key Takeaway
Homes in Gibraltar have sold for 14.3% less than they did a year ago.
Summary: The median home sold price in Gibraltar was $218,450 in November 2024, down 14.3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $151K | $190K | +25.8% |
| 3 Bedrooms | $255K | $225K | -11.8% |
| 4 Bedrooms | $326K | $235K | -27.9% |
| 5+ Bedrooms | $600K | $482.5K | -19.6% |
Summary: Gibraltar housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.8%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 27.9%, and 5+ bedroom homes decreased by 19.6%.
Median Sold Price Compared To Nearby Cities
| Grosse Ile Township | $348K | $370K | +6.3% |
| Grosse Ile | $348K | $370K | +6.3% |
| Brownstown Charter Township | $285K | $300K | +5.3% |
| Trenton | $228.1K | $232.5K | +1.9% |
| Gibraltar | $255K | $218.4K | -14.3% |
Housing Supply in Gibraltar, MI
How many homes are available in Gibraltar, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 14 | -39.1% |
Summary: The Gibraltar real estate market had 14 homes for sale in November 2024, a 39.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 4 | -42.9% |
| 3 Bedrooms | 11 | 6 | -45.5% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Gibraltar 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 42.9%, 3 bedroom homes decreased by 45.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 4 | -63.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gibraltar, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Gibraltar in November 2024, down by 63.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 8 Days | 9 Days | +18.2% |
Summary: Homes in Gibraltar had an average of 9 days on market in Nov 2024, up by 18.2% compared to last year.
Breakdown of Home Sale Times
4 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 Gibraltar are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Gibraltar; 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.
