$3,325 Closing Credit*
$280,000
1,818 SqFt
3 Beds
•1 Full Bath, 2 Partial
Kevin J Sabuda, Listing Office: Metropolitan Real Estate
Is Southgate, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Southgate has remained a Seller's Market.
Key Takeaway
Southgate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southgate, MI
How much do homes in Southgate, MI cost?
Median Sold Price
$200,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$15,000(+8.1%)
Key Takeaway
Homes in Southgate have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Southgate was $200,000 in December 2024, up 8.1% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $110K | +37.5% |
| 2 Bedrooms | $140.4K | $150K | +6.8% |
| 3 Bedrooms | $194.4K | $204.5K | +5.2% |
| 4 Bedrooms | $277.5K | $265K | -4.5% |
| 5+ Bedrooms | $300.5K | $394.5K | +31.3% |
Summary: Southgate housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 31.3%.
Median Sold Price Compared To Nearby Cities
| Riverview | $194.5K | $211.5K | +8.7% |
| Southgate | $185K | $200K | +8.1% |
| Allen Park | $200.5K | $215K | +7.2% |
| Wyandotte | $180K | $190K | +5.6% |
| Lincoln Park | $143.7K | $150K | +4.3% |
Housing Supply in Southgate, MI
How many homes are available in Southgate, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 81 | 68 | -16.0% |
Summary: The Southgate real estate market had 68 homes for sale in December 2024, a 16.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 13 | 9 | -30.8% |
| 3 Bedrooms | 57 | 52 | -8.8% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southgate housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 27 | 24 | -11.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southgate, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Southgate in December 2024, down by 11.1% month-over-month. Of the 24 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Southgate, MI
How long does it take to sell a home in Southgate, MI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 23 Days | 12 Days | -46.8% |
Summary: Homes in Southgate had an average of 12 days on market in Dec 2024, down by 46.8% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southgate are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 24 homes were sold in Southgate; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.