Is Bear Lake Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bear Lake Township is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Bear Lake Township was a Buyer's Market.

Key Takeaway

Bear Lake Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bear Lake Township, MI

How much do homes in Bear Lake Township, MI cost?

Median Sold Price

$200,600

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$28,900(-12.6%)

Key Takeaway

Homes in Bear Lake Township have sold for 12.6% less than they did a year ago.

Summary: The median home sold price in Bear Lake Township was $200,600 in February 2024, down 12.6% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$80K
N/A
2 $219K$211.5K
-3.4%
3 $227K$205.3K
-9.6%
4 $392.5K$191.9K
-51.1%
5+ $220K$392.4K
+78.4%

Summary: Bear Lake Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 51.1%, and 5+ bedroom homes increased by 78.4%.

Median Sold Price Compared To Nearby Cities

Pleasanton Township
+14.6%
Bear Lake Township
-12.6%

Housing Supply in Bear Lake Township, MI

How many homes are available in Bear Lake Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1013+30.0%

Summary: The Bear Lake Township real estate market had 13 homes for sale in February 2024, a 30.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 22
0.0%
3 44
0.0%
4 24
+100.0%
5+ 12
+100.0%

Summary: The Bear Lake Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
16+500.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bear Lake Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Bear Lake Township in February 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for Bear Lake Township, MI

How long does it take to sell a home in Bear Lake Township, MI?

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bear Lake Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 6 homes were sold in Bear Lake Township; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Bear Lake Township, MI

Nearby Markets to Bear Lake Township, MI

What housing markets are near Bear Lake Township, MI?