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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Houghton Lake is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Houghton Lake was a Neutral Market.

Key Takeaway

Houghton Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Houghton Lake, MI

How much do homes in Houghton Lake, MI cost?

Median Sold Price

$180,000

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$4,000(-2.2%)

Key Takeaway

Homes in Houghton Lake have sold for 2.2% less than they did a year ago.

Summary: The median home sold price in Houghton Lake was $180,000 in April 2024, down 2.2% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $79.9K$85K
+6.3%
2 $139K$135K
-2.9%
3 $210K$207K
-1.4%
4 $463.5K$305K
-34.2%
5+ $179.9K$822K
+356.9%

Summary: Houghton Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 34.2%, and 5+ bedroom homes increased by 356.9%.

Median Sold Price Compared To Nearby Cities

Denton Township
+32.4%
Prudenville
+31.9%
Roscommon Township
+6.8%
Houghton Lake
-2.2%

Housing Supply in Houghton Lake, MI

How many homes are available in Houghton Lake, MI?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
5477+42.6%

Summary: The Houghton Lake real estate market had 77 homes for sale in April 2024, a 42.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 13
+200.0%
2 919
+111.1%
3 3543
+22.9%
4 710
+42.9%
5+ 22
0.0%

Summary: The Houghton Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 111.1%, 3 bedroom homes increased by 22.9%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
116-45.5%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Houghton Lake, 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 Houghton Lake in April 2024, down by 45.5% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Houghton Lake, MI

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

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Houghton Lake has remained consistent over time.

Summary: During April 2024, 6 homes were sold in Houghton Lake; 0% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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 10 Days Ago

Newest Listings in Houghton Lake, MI

Nearby Markets to Houghton Lake, MI

What housing markets are near Houghton Lake, MI?