Is Lafayette Park, 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, Lafayette Park has remained a Buyer's Market.
Key Takeaway
Lafayette Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lafayette Park, MI
How much do homes in Lafayette Park, MI cost?
Median Sold Price
$95,000
$123/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Lafayette Park have sold for 19.1% less than they did a month ago.
Summary: The median home sold price in Lafayette Park was $95,000 in April 2024, down 19.1% from last month, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.5K | $95K | -19.1% |
| 2 Bedrooms | - | $342.5K | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lafayette Park housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 19.1%, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Lafayette Park, MI
How many homes are available in Lafayette Park, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 36 | +24.1% |
Summary: The Lafayette Park real estate market had 36 homes for sale in April 2024, a 24.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 13 | +44.4% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lafayette Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 44.4%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 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 Lafayette Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Lafayette Park in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Lafayette Park, MI
How long does it take to sell a home in Lafayette Park, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 9 Days | -79.5% |
Summary: Homes in Lafayette Park had an average of 9 days on market in Apr 2024, down by 79.5% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lafayette Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Lafayette Park; 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.