Is White 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, White Lake has remained a Seller's Market.
Key Takeaway
White Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in White Lake, MI
How much do homes in White Lake, MI cost?
Median Sold Price
$386,450
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in White Lake have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in White Lake was $386,450 in May 2024, up 7.3% 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 | $265K | $174K | -34.3% |
| 2 Bedrooms | $247K | $295K | +19.4% |
| 3 Bedrooms | $315K | $345.6K | +9.7% |
| 4 Bedrooms | $425K | $449.5K | +5.8% |
| 5+ Bedrooms | $470K | $550K | +17.0% |
Summary: White Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.3%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 17%.
Median Sold Price Compared To Nearby Cities
| Commerce Township | $410K | $461.5K | +12.6% |
| White Lake | $360K | $386.4K | +7.3% |
| White Lake Charter Township | $360K | $386K | +7.2% |
| Commerce Charter Township | $350K | $370K | +5.7% |
| Waterford | $242.6K | $254.7K | +5.0% |
Housing Supply in White Lake, MI
How many homes are available in White Lake, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 121 | 126 | +4.1% |
Summary: The White Lake real estate market had 126 homes for sale in May 2024, a 4.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 49 | 56 | +14.3% |
| 4 Bedrooms | 46 | 44 | -4.3% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The White Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 34 | +6.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in White Lake, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in White Lake in May 2024, up by 6.3% month-over-month. Of the 34 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.
Days on Market for White Lake, MI
How long does it take to sell a home in White Lake, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 17 Days | -64.5% |
Summary: Homes in White Lake had an average of 17 days on market in May 2024, down by 64.5% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in White Lake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in White Lake; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.