Is Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lake Township was a Seller's Market.
Housing Prices in Lake Township, MI
How much do homes in Lake Township, MI cost?
Median Sold Price
$146,250
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Township was $146,250 in April 2024, up 7.7% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103.4K | $61.9K | -40.1% |
2 Bedrooms | $110K | $130K | +18.2% |
3 Bedrooms | $155K | $205K | +32.3% |
4 Bedrooms | $182.5K | $215K | +17.8% |
5+ Bedrooms | $490K | $351K | -28.4% |
Summary: Lake Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.1%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 32.3%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes decreased by 28.4%.
Median Sold Price Compared To Nearby Cities
Caseville Township | $218.8K | $285K | +30.2% |
Lake Township | $135.7K | $146.2K | +7.7% |
Housing Supply in Lake Township, MI
How many homes are available in Lake Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 33 | +37.5% |
Summary: The Lake Township real estate market had 33 homes for sale in April 2024, a 37.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 9 | 12 | +33.3% |
3 Bedrooms | 11 | 13 | +18.2% |
4 Bedrooms | 1 | 3 | +200.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Lake Township in April 2024, the same as the previous month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Township, MI
How long does it take to sell a home in Lake Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
175 Days | 119 Days | -31.9% |
Summary: Homes in Lake Township had an average of 119 days on market in Apr 2024, down by 31.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Lake Township; 0% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.