Is Chippewa Lake, 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, Chippewa Lake has remained a Seller's Market.
Key Takeaway
Chippewa Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chippewa Lake, MI
How much do homes in Chippewa Lake, MI cost?
Median Sold Price
$69,000
$114/sqft
Based on all homes sold in November 2023.
Difference Since Last Month
Key Takeaway
Homes in Chippewa Lake have sold for 60.5% more than they did a month ago.
Summary: The median home sold price in Chippewa Lake was $69,000 in November 2023, up 60.5% from last month, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $43K | $69K | +60.5% |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Chippewa Lake housing prices by bedroom type for November 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60.5%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Rodney | $34K | $165.5K | +386.8% |
| Chippewa Township | $43K | $129.7K | +201.7% |
| Chippewa Lake | $43K | $69K | +60.5% |
Housing Supply in Chippewa Lake, MI
How many homes are available in Chippewa Lake, MI?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Summary: The Chippewa Lake real estate market had 4 homes for sale in November 2023, a 33.3% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 0 | 2 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Chippewa Lake housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chippewa Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Chippewa Lake in November 2023, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Chippewa Lake, MI
How long does it take to sell a home in Chippewa Lake, MI?
Average Sale Time
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 103 Days | 28 Days | -72.3% |
Summary: Homes in Chippewa Lake had an average of 28 days on market in Nov 2023, down by 72.3% 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 Chippewa Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 2 homes were sold in Chippewa Lake; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
