Is Interlochen, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Interlochen has remained a Seller's Market.
Housing Prices in Interlochen, MI
How much do homes in Interlochen, MI cost?
Median Sold Price
$372,500
$257/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Interlochen was $372,500 in April 2024, down 20.7% from last month, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $345K | $320.5K | -7.1% |
3 Bedrooms | - | $464.5K | N/A |
4 Bedrooms | $523.5K | $282.5K | -46.0% |
5+ Bedrooms | $1.4M | - | N/A |
Summary: Interlochen housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.1%, 3 bedroom homes did not change, 4 bedroom homes decreased by 46%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Interlochen | $470K | $372.5K | -20.7% |
Grawn | $442.5K | $319.5K | -27.8% |
Housing Supply in Interlochen, MI
How many homes are available in Interlochen, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 24 | +26.3% |
Summary: The Interlochen real estate market had 24 homes for sale in April 2024, a 26.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 8 | +60.0% |
3 Bedrooms | 5 | 10 | +100.0% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Interlochen housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Interlochen in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
139 Days | 48 Days | -65.5% |
Summary: Homes in Interlochen had an average of 48 days on market in Apr 2024, down by 65.5% compared to last month.
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 April 2024, 8 homes were sold in Interlochen; 38% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.