Is Chippewa Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 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
$150,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chippewa Lake have sold for 17.7% more than they did a year ago.
Summary: The median home sold price in Chippewa Lake was $150,000 in April 2024, up 17.7% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $215K | N/A |
| 2 Bedrooms | $91.4K | $118.5K | +29.6% |
| 3 Bedrooms | $150K | $225K | +50.0% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Chippewa Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.6%, 3 bedroom homes increased by 50%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Chippewa Lake | $127.4K | $150K | +17.7% |
| Rodney | $185K | $193K | +4.3% |
| Chippewa Township | $150K | $142.5K | -5.0% |
Housing Supply in Chippewa Lake, MI
How many homes are available in Chippewa Lake, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Summary: The Chippewa Lake real estate market had 4 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Chippewa Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was 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 1 homes were sold or pending in Chippewa Lake in April 2024, down by 50.0% month-over-month. Of the 1 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 109 Days | 25 Days | -77.1% |
Summary: Homes in Chippewa Lake had an average of 25 days on market in Apr 2024, down by 77.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were 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 April 2024, 1 homes were sold in Chippewa Lake; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
