Is Lyon Charter Township, 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, Lyon Charter Township has remained a Seller's Market.
Housing Prices in Lyon Charter Township, MI
How much do homes in Lyon Charter Township, MI cost?
Median Sold Price
$550,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lyon Charter Township was $550,000 in May 2024, up 3.4% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $48K | $68.7K | +43.1% |
2 Bedrooms | $265K | $417K | +57.4% |
3 Bedrooms | $439K | $480K | +9.3% |
4 Bedrooms | $550K | $605.9K | +10.2% |
5+ Bedrooms | $598.5K | $689K | +15.1% |
Summary: Lyon Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.1%, 2 bedroom homes increased by 57.4%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 15.1%.
Median Sold Price Compared To Nearby Cities
New Hudson | $427K | $480K | +12.4% |
Wixom | $330.5K | $367K | +11.0% |
Lyon Charter Township | $531.7K | $550K | +3.4% |
South Lyon | $446.3K | $443.3K | -0.7% |
Salem Township | $632.2K | $625K | -1.1% |
Housing Supply in Lyon Charter Township, MI
How many homes are available in Lyon Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 66 | +4.8% |
Summary: The Lyon Charter Township real estate market had 66 homes for sale in May 2024, a 4.8% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 12 | 15 | +25.0% |
4 Bedrooms | 37 | 34 | -8.1% |
5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Lyon Charter Township 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 25%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 17 | -5.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Lyon Charter Township in May 2024, down by 5.6% month-over-month. Of the 17 sold homes, 12% were sold under asking, 35% were sold at asking, and 53% were sold over asking.
Days on Market for Lyon Charter Township, MI
How long does it take to sell a home in Lyon Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 10 Days | -43.7% |
Summary: Homes in Lyon Charter Township had an average of 10 days on market in May 2024, down by 43.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Lyon Charter Township; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.