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.
Key Takeaway
Houghton Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
Homes in Houghton Lake have sold for 5.6% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Houghton Lake, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.
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
Key Takeaway
Avg time on Rocket Homes in Houghton Lake has remained consistent over time.
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.
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