Is Central Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Central Lake Township has remained a Seller's Market.
Key Takeaway
Central Lake Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Central Lake Township, MI
How much do homes in Central Lake Township, MI cost?
Median Sold Price
$316,050
$410/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Central Lake Township have sold for 2% more than they did a month ago.
Summary: The median home sold price in Central Lake Township was $316,050 in March 2024, up 2% from last month, and the median price per square foot was $410.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $335K | $57.1K | -83.0% |
| 3 Bedrooms | $285K | $575K | +101.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Central Lake Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 83%, 3 bedroom homes increased by 101.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Central Lake Township | $310K | $316K | +2.0% |
| Central Lake | $310K | $316K | +2.0% |
| Banks Township | $748.7K | $525K | -29.9% |
| South Arm Township | $1.2M | $600K | -50.8% |
Housing Supply in Central Lake Township, MI
How many homes are available in Central Lake Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The Central Lake Township real estate market had 8 homes for sale in March 2024, a 11.1% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Central 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 decreased by 33.3%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Lake Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Central Lake Township in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Central Lake Township, MI
How long does it take to sell a home in Central Lake Township, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 32 Days | -47.6% |
Summary: Homes in Central Lake Township had an average of 32 days on market in Mar 2024, down by 47.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Central Lake Township; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
