Is Bear Lake Township, 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 Township has remained a Seller'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
$234,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bear Lake Township have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Bear Lake Township was $234,500 in March 2024, up 6.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $80K | +14.3% |
| 2 Bedrooms | $315K | $139.5K | -55.7% |
| 3 Bedrooms | $220K | $234.5K | +6.6% |
| 4 Bedrooms | $275K | $312K | +13.5% |
| 5+ Bedrooms | - | $392.4K | N/A |
Summary: Bear Lake Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 55.7%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Frederic Township | $179.5K | $245K | +36.5% |
| Frederic | $199.4K | $251.2K | +26.0% |
| Grayling Charter Township | $153K | $186.2K | +21.7% |
| Bear Lake Township | $220K | $234.5K | +6.6% |
Housing Supply in Bear Lake Township, MI
How many homes are available in Bear Lake Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Bear Lake Township real estate market had 14 homes for sale in March 2024, a 6.7% 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 | 2 | +100.0% |
| 3 Bedrooms | 6 | 4 | -33.3% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Bear Lake Township 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 increased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bear Lake Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Bear Lake Township in March 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 1 Day | 56 Days | +5566.7% |
Summary: Homes in Bear Lake Township had an average of 56 days on market in Mar 2024, up by 5566.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bear Lake Township has remained consistent over time.
Summary: During March 2024, 3 homes were sold in Bear Lake Township; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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