Is Bear Lake 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, Bear Lake Township has remained a Seller's Market.
Housing Prices in Bear Lake Township, MI
How much do homes in Bear Lake Township, MI cost?
Median Sold Price
$234,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bear Lake Township was $234,500 in May 2024, up 12.8% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $80K | 0.0% |
2 Bedrooms | $180K | $211.5K | +17.5% |
3 Bedrooms | $215K | $222.2K | +3.4% |
4 Bedrooms | $520K | $243K | -53.3% |
5+ Bedrooms | - | $392.4K | N/A |
Summary: Bear Lake Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 53.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Maple Grove Township | $139.5K | $200K | +43.4% |
Bear Lake Township | $207.8K | $234.5K | +12.8% |
Bear Lake | $200.6K | $210K | +4.7% |
Housing Supply in Bear Lake Township, MI
How many homes are available in Bear Lake Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 14 | +7.7% |
Summary: The Bear Lake Township real estate market had 14 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 3 | 5 | +66.7% |
4 Bedrooms | 7 | 5 | -28.6% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bear Lake Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Bear Lake Township in May 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Bear Lake Township, MI
How long does it take to sell a home in Bear Lake Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
76 Days | 86 Days | +13.6% |
Summary: Homes in Bear Lake Township had an average of 86 days on market in May 2024, up by 13.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Bear Lake Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.