Is Sand 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, Sand Lake has remained a Seller's Market.
Key Takeaway
Sand Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sand Lake, MI
How much do homes in Sand Lake, MI cost?
Median Sold Price
$302,250
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sand Lake have sold for 20.9% more than they did a year ago.
Summary: The median home sold price in Sand Lake was $302,250 in May 2024, up 20.9% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $245K | N/A |
| 2 Bedrooms | $141K | $180K | +27.7% |
| 3 Bedrooms | $249.9K | $295K | +18.0% |
| 4 Bedrooms | $325K | $373K | +14.8% |
| 5+ Bedrooms | $213.2K | $310K | +45.4% |
Summary: Sand Lake 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 27.7%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 45.4%.
Median Sold Price Compared To Nearby Cities
| Sand Lake | $249.9K | $302.2K | +20.9% |
| Nelson Township | $260K | $294.9K | +13.4% |
| Pierson Township | $280K | $294.9K | +5.3% |
Housing Supply in Sand Lake, MI
How many homes are available in Sand Lake, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 21 | +16.7% |
Summary: The Sand Lake real estate market had 21 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Sand Lake 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 remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sand Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Sand Lake in May 2024, the same as the previous month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Sand Lake, MI
How long does it take to sell a home in Sand Lake, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 33 Days | +130.7% |
Summary: Homes in Sand Lake had an average of 33 days on market in May 2024, up by 130.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sand Lake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Sand Lake; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
