Is Lachine, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lachine was a Buyer's Market.
Key Takeaway
Lachine is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lachine, MI
How much do homes in Lachine, MI cost?
Median Sold Price
$195,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lachine have sold for 44.4% more than they did a year ago.
Summary: The median home sold price in Lachine was $195,000 in April 2024, up 44.4% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $181K | N/A |
| 2 Bedrooms | $137.5K | $97.7K | -28.9% |
| 3 Bedrooms | $134.2K | $274K | +104.1% |
| 4 Bedrooms | $196.4K | $390K | +98.5% |
| 5+ Bedrooms | $204.7K | $880K | +329.8% |
Summary: Lachine 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 decreased by 28.9%, 3 bedroom homes increased by 104.1%, 4 bedroom homes increased by 98.5%, and 5+ bedroom homes increased by 329.8%.
Median Sold Price Compared To Nearby Cities
| Lachine | $135K | $195K | +44.4% |
| Green Township | $175K | $149K | -14.9% |
Housing Supply in Lachine, MI
How many homes are available in Lachine, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Summary: The Lachine real estate market had 12 homes for sale in April 2024, a 9.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lachine housing inventory by bedroom type for April 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 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lachine, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lachine in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Lachine, MI
How long does it take to sell a home in Lachine, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Lachine are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in Lachine; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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