🏡 Michigan Real Estate Market Update: What Buyers and Sellers Need to Know This Fall in Genesee County and Beyond

Is the Michigan housing market heating up or cooling down? Here's your October update for buyers and sellers across Genesee County and the surrounding areas.

Quick Summary

• Home sales in Michigan are up year-over-year, even with mortgage rate shifts.

• Inventory is increasing, giving buyers more choices.

• Median home prices in Genesee County rose 5.9% year-over-year.

• Homes are sitting on the market slightly longer than they were last year.

• Pending sales have decreased, meaning more buyers are taking their time.

Let’s break down what this means for you, whether you're looking to buy, sell, or just stay informed.

National Market Snapshot: Why It Matters in Michigan

According to the National Association of REALTORS®, U.S. existing-home sales dipped slightly by 0.2 percent. That sounds small, but it reflects homes that were under contract when mortgage rates were higher earlier this summer.

The Midwest, including Michigan, showed the strongest home sales activity across the country. With homes here priced 22 percent below the national median, it’s no surprise more buyers are looking our way.

Genesee County and Nearby Markets: September by the Numbers

Here’s what’s happening locally, based on the latest data from Realcomp:

Residential Homes

• Closed Sales increased by 3.0 percent

• Pending Sales dropped by 2.1 percent

• Inventory rose by 15.7 percent

• Median Sales Price increased to $285,950, a 5.9 percent jump

• Days on Market increased by 9.4 percent

• Month’s Supply of Inventory rose by 11.5 percent

Condo Homes

• Closed Sales increased by 1.7 percent

• Pending Sales decreased by 8.4 percent

• Inventory jumped 16.5 percent

• Median Sales Price climbed to $280,000, up 7.7 percent

• Days on Market increased by 11.1 percent

• Month’s Supply of Inventory rose by 18.5 percent

What Homebuyers in Genesee County Should Know

If you’re thinking about buying a home, this fall is shaping up to be a favorable time.

Here’s why:

• Inventory is up, meaning more homes to choose from

• Homes are staying on the market longer, so you may have more time to decide

• Interest rates have slightly improved from their summer highs

What to watch out for:

• Prices are still trending upward

• Fewer buyers are writing offers, but this could be a smart time to make yours stand out

Tip: Focus your search on homes that have been listed for more than 30 days. In places like Grand Blanc and Davison, sellers may be more open to negotiating.

What Sellers Need to Consider Right Now

Sellers still have the upper hand in many ways, but pricing and presentation matter more than ever.

What’s working in your favor:

• Sale prices are up nearly 6 percent over last year

• Most sellers are still getting close to their asking price, around 98.6 percent

Challenges to keep in mind:

• Buyers have more homes to choose from

• It’s taking a few more days to get offers, so patience and preparation are key

Tip: Work with a local REALTOR® who understands your neighborhood and can help you market effectively. Pricing just below major thresholds, such as listing at $299,900 instead of $305,000, can lead to more buyer interest.

How Surrounding Counties Are Trending

Looking outside of Genesee County? Here's a snapshot of nearby markets:

• Lapeer County: Popular for its rural setting and larger lots

• Livingston County: Solid market with steady home values

• Oakland & Macomb Counties: More competitive, but still active

• Washtenaw County: Great for those near Ann Arbor and Ypsilanti

• St. Clair & Wayne Counties: Affordable options with long-term potential

No matter which county you’re exploring, having access to updated local data gives you the edge.

Market Trends to Watch This Fall

Inventory Is Building

More homes are entering the market, creating opportunities for buyers and a need for sellers to stand out.

Affordability Remains a Draw

Michigan continues to attract attention from out-of-state buyers thanks to its value compared to other U.S. markets.

Buyer Hesitation Creates Opportunity

With some buyers waiting on the sidelines, serious buyers can make competitive offers with less competition.

What the Experts Are Saying

“Prospective homebuyers are continuing to enjoy more options in the marketplace across the entire MLS,”
said Karen Kage, CEO of Realcomp II Ltd.
“And while median sale prices have continued to increase in our market year-over-year, we did see a slight downtick from last month.”

This month-over-month drop may offer a short window of opportunity for buyers to lock in a home before the holidays slow activity.

What You Can Do Right Now

If You’re a Buyer

• Get pre-approved before you shop

• Look for homes that have been on the market longer

• Work with a REALTOR® who knows the Genesee County neighborhoods

If You’re a Seller

• Invest in professional photos and staging

• Price your home strategically to attract more buyers

• Highlight features buyers are looking for like home offices and updated kitchens

Final Thoughts

The Michigan market is showing signs of stability, but also offering subtle shifts that savvy buyers and sellers can take advantage of.

If you're in Genesee County or nearby, this fall could be a great time to make a move. Prices are strong, options are growing, and informed decisions are being rewarded.

Ready to take the next step?