Is Bear Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Bear Lake has remained a Seller's Market.
Key Takeaway
Bear Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bear Lake, MI
How much do homes in Bear Lake, MI cost?
Median Sold Price
$222,250
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bear Lake have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Bear Lake was $222,250 in March 2024, up 10.8% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $80K | N/A |
| 2 Bedrooms | $160K | $135K | -15.6% |
| 3 Bedrooms | $215K | $210K | -2.3% |
| 4 Bedrooms | $191.9K | $296.5K | +54.5% |
| 5+ Bedrooms | - | $392.4K | N/A |
Summary: Bear Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 54.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bear Lake | $200.6K | $222.2K | +10.8% |
| Bear Lake Township | $215K | $235.2K | +9.4% |
Housing Supply in Bear Lake, MI
How many homes are available in Bear Lake, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Bear Lake real estate market had 9 homes for sale in March 2024, a 10.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Bear Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bear Lake, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Bear Lake in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Bear Lake, MI
How long does it take to sell a home in Bear Lake, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 1 Day | 35 Days | +3400.0% |
Summary: Homes in Bear Lake had an average of 35 days on market in Mar 2024, up by 3400% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bear Lake has remained consistent over time.
Summary: During March 2024, 2 homes were sold in Bear Lake; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
