Is Houghton Lake, 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, Houghton Lake has remained a Seller's Market.
Housing Prices in Houghton Lake, MI
How much do homes in Houghton Lake, MI cost?
Median Sold Price
$190,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Houghton Lake was $190,000 in May 2024, up 5.6% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.9K | $85K | +6.3% |
2 Bedrooms | $134.2K | $135K | +0.6% |
3 Bedrooms | $206.7K | $225K | +8.8% |
4 Bedrooms | $460K | $321.6K | -30.1% |
5+ Bedrooms | $179.9K | $669.9K | +272.4% |
Summary: Houghton Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 30.1%, and 5+ bedroom homes increased by 272.4%.
Median Sold Price Compared To Nearby Cities
Denton Township | $180K | $224.5K | +24.7% |
Prudenville | $170K | $202.5K | +19.1% |
Roscommon Township | $168.6K | $182.2K | +8.1% |
Houghton Lake | $179.9K | $190K | +5.6% |
Housing Supply in Houghton Lake, MI
How many homes are available in Houghton Lake, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
76 | 110 | +44.7% |
Summary: The Houghton Lake real estate market had 110 homes for sale in May 2024, a 44.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 18 | 30 | +66.7% |
3 Bedrooms | 44 | 58 | +31.8% |
4 Bedrooms | 9 | 13 | +44.4% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Houghton Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 31.8%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 24 | +300.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Houghton Lake in May 2024, up by 300.0% month-over-month. Of the 24 sold homes, 71% were sold under asking, 17% were sold at asking, and 13% were sold over asking.
Days on Market for Houghton Lake, MI
How long does it take to sell a home in Houghton Lake, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 56 Days | +43.7% |
Summary: Homes in Houghton Lake had an average of 56 days on market in May 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Houghton Lake; 13% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.