Southgate Housing Market Report March 2025•Wayne County, Michigan

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Housing Prices in Southgate, MI

How much do homes in Southgate, MI cost?

Housing Market Conditions

Is Southgate, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Southgate is a Seller's Market

Difference Since March 2024

Since last year, Southgate has remained a Seller's Market.

Insight

Southgate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$196,700$124/SqFt
+$15,366
+8.5%

Based on all homes sold in the last 12 months

Insight

Homes in Southgate have sold for 8.5% more than they did a year ago.

Summary: The median home sold price in Southgate was $196,700 in March 2025, up 8.5% from last year, and the median price per square foot was $124.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Riverview
+13.5%
Southgate
+8.5%
Wyandotte
+2.7%
Allen Park
+2.4%
Lincoln Park
+2.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1-$120K
N/A
2$144.7K$150K
+3.6%
3$190K$205K
+7.9%
4$280K$265K
-5.4%
5$250K$394.5K
+57.8%

Summary: Southgate housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +3.6%. The home price for 3 bedroom homes increased by +7.9%. The home price for 4 bedroom homes decreased by -5.4%. The home price for 5 bedroom homes increased by +57.8%.

How does Southgate, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Southgate, MI

Housing supply in Southgate, MI

How many homes are available in Southgate, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
89Last MonthMar 2025
632 months agoFeb 2025
+41.3 %
Change MoMFeb – Mar

Summary: The Southgate real estate market had 89 homes for sale in Mar 2025, a 41.3 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
23Last MonthMar 2025
152 months agoFeb 2025
+53.3 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
100
0.0%
21723
+35.3%
34257
+35.7%
449
+125.0%
500
0.0%

Summary: Southgate housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +35.3%. The inventory for 3 bedroom homes increased by +35.7%. The inventory for 4 bedroom homes increased by +125.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Southgate, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price12 Homes

At Asking Price4 Homes

Under Asking Price7 Homes

Insight

If you're buying a home in Southgate, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in Southgate in March 2025, up by 53.3% month-over-month. Of the 23 sold homes, 30% were sold under asking, 17% were sold at asking, and and 52% were sold over asking.

Days on Market for Southgate, MI

How long does it take to sell a home in Southgate, MI?

Breakdown of Home Sale Times

Under 30 Days17 Homes

30 – 90 Days2 Homes

Over 90 Days4 Homes

Insight

Many homes in Southgate are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 23 homes were sold in Southgate; 74% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
31 DaysThis YearMar 2025
18 Days1 year agoMar 2024
+70.5 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Southgate had an average listing age of 31 days in Mar 2025, up by 70.5% compared to the previous year.

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Newest Listings in Southgate, MI

What homes are available in Southgate, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., and Michigan Regional Information Center LLC for the period 04/01/2023 - 04/01/2025

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/9/2025, 3:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity 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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/9/2025, 3:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.