Is Interlochen, 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, Interlochen was a Buyer's Market.
Key Takeaway
Interlochen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Interlochen, MI
How much do homes in Interlochen, MI cost?
Median Sold Price
$349,900
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Interlochen have sold for 18.6% more than they did a year ago.
Summary: The median home sold price in Interlochen was $349,900 in May 2024, up 18.6% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $119.5K | -0.4% |
| 2 Bedrooms | $92K | $279K | +203.3% |
| 3 Bedrooms | $304.7K | $345K | +13.2% |
| 4 Bedrooms | $390K | $440K | +12.8% |
| 5+ Bedrooms | $661.6K | $535K | -19.1% |
Summary: Interlochen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 203.3%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 19.1%.
Median Sold Price Compared To Nearby Cities
| Interlochen | $294.9K | $349.9K | +18.6% |
| Grant Township | $220K | $236K | +7.3% |
| Green Lake Township | $370K | $358.5K | -3.1% |
Housing Supply in Interlochen, MI
How many homes are available in Interlochen, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 22 | -8.3% |
Summary: The Interlochen real estate market had 22 homes for sale in May 2024, a 8.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Interlochen 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 decreased by 25%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Interlochen, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Interlochen in May 2024, down by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Interlochen, MI
How long does it take to sell a home in Interlochen, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 77 Days | 33 Days | -56.7% |
Summary: Homes in Interlochen had an average of 33 days on market in May 2024, down by 56.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Interlochen has remained consistent over time.
Summary: During May 2024, 6 homes were sold in Interlochen; 17% of homes were sold within 30 days, 83% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.