Is Whitmore Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Whitmore Lake has remained a Seller's Market.
Housing Prices in Whitmore Lake, MI
How much do homes in Whitmore Lake, MI cost?
Median Sold Price
$380,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Whitmore Lake was $380,000 in April 2024, up 6.4% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $357.5K | N/A |
2 Bedrooms | $277K | $236.5K | -14.6% |
3 Bedrooms | $320K | $350K | +9.4% |
4 Bedrooms | $415K | $447.9K | +7.9% |
5+ Bedrooms | $575K | $409K | -28.9% |
Summary: Whitmore Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.6%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 28.9%.
Median Sold Price Compared To Nearby Cities
Northfield Township | $335K | $362.5K | +8.2% |
Whitmore Lake | $357.2K | $380K | +6.4% |
Hamburg Township | $385K | $406K | +5.5% |
Webster Township | $537.5K | $542.5K | +0.9% |
Housing Supply in Whitmore Lake, MI
How many homes are available in Whitmore Lake, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 31 | +24.0% |
Summary: The Whitmore Lake real estate market had 31 homes for sale in April 2024, a 24.0% 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 | 2 | 5 | +150.0% |
3 Bedrooms | 12 | 17 | +41.7% |
4 Bedrooms | 11 | 8 | -27.3% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Whitmore Lake 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 150%, 3 bedroom homes increased by 41.7%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 6 | -45.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Whitmore Lake in April 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Whitmore Lake, MI
How long does it take to sell a home in Whitmore Lake, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 56 Days | +87.9% |
Summary: Homes in Whitmore Lake had an average of 56 days on market in Apr 2024, up by 87.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Whitmore Lake; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.