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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Charter Township is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Lake Charter Township has remained a Seller's Market.

Key Takeaway

Lake Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lake Charter Township, MI

How much do homes in Lake Charter Township, MI cost?

Median Sold Price

$172,250

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$29,750(-14.7%)

Key Takeaway

Homes in Lake Charter Township have sold for 14.7% less than they did a year ago.

Summary: The median home sold price in Lake Charter Township was $172,250 in March 2024, down 14.7% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $150.3K$58.2K
-61.3%
2 $127K$150K
+18.1%
3 $169.9K$227K
+33.6%
4 $850K$320K
-62.4%
5+ $615K$455K
-26.0%

Summary: Lake Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 61.3%, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 33.6%, 4 bedroom homes decreased by 62.4%, and 5+ bedroom homes decreased by 26%.

Median Sold Price Compared To Nearby Cities

Baroda Township
+20.5%
Bridgman
+7.7%
Sawyer
-2.2%
Lincoln Charter Township
-3.7%
Lake Charter Township
-14.7%

Housing Supply in Lake Charter Township, MI

How many homes are available in Lake Charter Township, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3635-2.8%

Summary: The Lake Charter Township real estate market had 35 homes for sale in March 2024, a 2.8% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 33
0.0%
2 1510
-33.3%
3 1318
+38.5%
4 21
-50.0%
5+ 33
0.0%

Summary: The Lake Charter Township 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 decreased by 33.3%, 3 bedroom homes increased by 38.5%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
117-36.4%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Charter Township, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Lake Charter Township in March 2024, down by 36.4% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Lake Charter Township, MI

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

Average Sale Time

Mar 2023Mar 2024CHANGE
77 Days92 Days+20.0%

Summary: Homes in Lake Charter Township had an average of 92 days on market in Mar 2024, up by 20% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Lake Charter Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 7 homes were sold in Lake Charter Township; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% 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 24 Days Ago

Newest Listings in Lake Charter Township, MI

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What housing markets are near Lake Charter Township, MI?