Is Fife Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Fife Lake was a Buyer's Market.
Key Takeaway
Fife Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Fife Lake, MI
How much do homes in Fife Lake, MI cost?
Median Sold Price
$249,500
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Fife Lake have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Fife Lake was $249,500 in May 2024, up 4.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147K | $55K | -62.6% |
| 2 Bedrooms | $149.5K | $192.5K | +28.8% |
| 3 Bedrooms | $375K | $260K | -30.7% |
| 4 Bedrooms | $153.2K | $315K | +105.5% |
| 5+ Bedrooms | - | $361K | N/A |
Summary: Fife Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.6%, 2 bedroom homes increased by 28.8%, 3 bedroom homes decreased by 30.7%, 4 bedroom homes increased by 105.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Springfield Township | $145K | $165K | +13.8% |
| Fife Lake | $239.2K | $249.5K | +4.3% |
Housing Supply in Fife Lake, MI
How many homes are available in Fife Lake, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 24 | +26.3% |
Summary: The Fife Lake real estate market had 24 homes for sale in May 2024, a 26.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Fife Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fife Lake, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Fife Lake in May 2024, down by 20.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Fife Lake, MI
How long does it take to sell a home in Fife Lake, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Fife Lake has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Fife Lake; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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