Grayling, MI 49738 Real Estate Market Report

ZIP Code: 49738
Report Date: May 2026
Market Temperature: NEUTRAL
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

Note: 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

---

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

1. The primary market indicator, the median sold price of 196,000, reflects recent transaction values and suggests market value has softened year-over-year with the broader price trend listed as down.

2. Despite balanced market temperature, the median days on market at 464 signals slower sales velocity and pricing friction; this extended time-to-contract may indicate buyers have more negotiation leverage and that sellers should consider realistic pricing and concessions. moderate interest rate pressure further supports cautious buyer activity.

3. The median price per square foot of 162 provides a stable unit-value benchmark for appraisals and pricing strategy; when combined with slower sales velocity, sellers may need to align list pricing closely to this per-square-foot benchmark to minimize time on market. neutral market temperature suggests neither side has a clear advantage.

4. Local rental fundamentals show a median market rent of 1,550 and the regional context reports strong rental demand with limited availability, which may support landlords and investors focusing on cashflow and lease-up prospects even as for-sale activity stabilizes. strong rental demand appears to coexist with a balanced for-sale market.

---

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.