Is Interlochen, 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, Interlochen has remained a Seller's Market.
Key Takeaway
Interlochen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Interlochen, MI
How much do homes in Interlochen, MI cost?
Median Sold Price
$347,500
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Interlochen have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in Interlochen was $347,500 in March 2024, up 19.9% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $119.5K | -0.4% |
| 2 Bedrooms | $92K | $248.5K | +170.1% |
| 3 Bedrooms | $300K | $345K | +15.0% |
| 4 Bedrooms | $390K | $449K | +15.1% |
| 5+ Bedrooms | $661.6K | $535K | -19.1% |
Summary: Interlochen housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 170.1%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes decreased by 19.1%.
Median Sold Price Compared To Nearby Cities
| Interlochen | $289.9K | $347.5K | +19.9% |
| Green Lake Township | $309.5K | $370K | +19.5% |
| Grant Township | $213K | $237K | +11.3% |
Housing Supply in Interlochen, MI
How many homes are available in Interlochen, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 19 | +46.2% |
Summary: The Interlochen real estate market had 19 homes for sale in March 2024, a 46.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 1 | 5 | +400.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Interlochen 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 remained the same, 3 bedroom homes increased by 400%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Interlochen, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Interlochen in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Interlochen, MI
How long does it take to sell a home in Interlochen, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 151 Days | +200.0% |
Summary: Homes in Interlochen had an average of 151 days on market in Mar 2024, up by 200% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Interlochen are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Interlochen; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.