Market Snapshot
- Median listing price
- $350K
- Median rent
- $706/mo
- Days on market
- 537 days
- Gross rental yield
- 2.42%
The median listing price in Grayling, MI ZIP 49738 is $350,000 as of June 2026.
The median market rent in Grayling, MI ZIP 49738 is $706/month as of June 2026.
The median days on market in Grayling, MI ZIP 49738 is 537 days as of June 2026. The market is currently neutral.
At a median list price of $350,000 and a median rent of $706/month, the gross rental yield in Grayling, MI ZIP 49738 is 2.42% as of June 2026.
Grayling, MI 49738 Real Estate Market Report
ZIP Code: 49738
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Key Findings
- The primary indicator of market value is the median sold price of 168,500, which represents the most reliable snapshot of recent transaction activity and suggests pricing stability with modest upward pressure (up).
- Liquidity appears constrained by slower sales velocity: the median days on market is 537, which points to extended time-to-sale and suggests pricing friction rather than rapid turnover in transactions.
- Price efficiency remains moderate: the median price per square foot is 144, which combined with the median sold price indicates reasonably consistent valuation metrics for SFR and condominium stock and may imply balanced seller expectations against recent sale prices.
- Rental market strength is a positive contextual signal for investors—median market rent is 706 and rent trends are up while interest rate pressure is assessed as moderate, indicating financing costs may temper but not yet negate rising rental income dynamics.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.50% rate, 1.0% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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