Is Georgetown Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Georgetown Charter Township has remained a Seller's Market.
Key Takeaway
Georgetown Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Georgetown Charter Township, MI
How much do homes in Georgetown Charter Township, MI cost?
Median Sold Price
$365,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Georgetown Charter Township have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Georgetown Charter Township was $365,000 in May 2024, up 6.7% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265.4K | $207.5K | -21.8% |
| 2 Bedrooms | $249K | $255K | +2.4% |
| 3 Bedrooms | $324K | $344K | +6.2% |
| 4 Bedrooms | $370.2K | $415K | +12.1% |
| 5+ Bedrooms | $487.4K | $496K | +1.8% |
Summary: Georgetown Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.8%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Jenison | $315.9K | $348.4K | +10.3% |
| Jamestown Charter Township | $417K | $455.5K | +9.2% |
| Grandville | $315K | $343.8K | +9.1% |
| Georgetown Charter Township | $341.9K | $365K | +6.7% |
| Hudsonville | $375K | $400K | +6.7% |
Housing Supply in Georgetown Charter Township, MI
How many homes are available in Georgetown Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 131 | 153 | +16.8% |
Summary: The Georgetown Charter Township real estate market had 153 homes for sale in May 2024, a 16.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 25 | 24 | -4.0% |
| 3 Bedrooms | 41 | 42 | +2.4% |
| 4 Bedrooms | 45 | 53 | +17.8% |
| 5+ Bedrooms | 18 | 33 | +83.3% |
Summary: The Georgetown Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 83.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 53 | 45 | -15.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Georgetown Charter Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 45 homes were sold or pending in Georgetown Charter Township in May 2024, down by 15.1% month-over-month. Of the 45 sold homes, 20% were sold under asking, 24% were sold at asking, and 56% were sold over asking.
Days on Market for Georgetown Charter Township, MI
How long does it take to sell a home in Georgetown Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 22 Days | +82.7% |
Summary: Homes in Georgetown Charter Township had an average of 22 days on market in May 2024, up by 82.7% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Georgetown Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 45 homes were sold in Georgetown Charter Township; 82% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.