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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Isabella is a seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

How much do homes in Lake Isabella, MI cost?

Median Sold Price

$190,000

$111/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$13,250(+7.5%)

Key Takeaway

Homes in Lake Isabella have sold for 7.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 --
N/A
2 $63K$137.5K
+118.3%
3 $171K$167K
-2.3%
4 $344.5K$207.5K
-39.8%
5+ $231.5K$495K
+113.8%

Median Sold Price Compared To Nearby Cities

Sherman Township
+40.2%
Nottawa Township
+37.3%
Weidman
+26.2%
Lake Isabella
+7.5%
Broomfield Township
+1.7%

How many homes are available in Lake Isabella, MI?

Number of Homes For Sale

Apr 2022May 2022%
1014+40.0%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 11
0.0%
2 03
+100.0%
3 76
-14.3%
4 24
+100.0%
5+ 00
0.0%

Number of Homes Sold

Apr 2022May 2022%
330.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Isabella, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Average Sale Time

May 2021May 2022%
123 Days48 Days-60.6%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake Isabella are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Lake Isabella, MI

Homes for sale in Lake Isabella, MI have reached 14. The number of listings in Lake Isabella, MI increased by 40% between April 2022 and May 2022. In May 2022, listings were on the market for 48 days. During the same period, the median list price in this real estate market was $190,000. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 0%, 2 bedrooms properties prices increased by 118.3%, 3 bedrooms properties became 2.3% more cheaper, prices of 4 bedrooms properties went down by 39.8%, prices of 5 bedrooms properties went up by 113.8%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, number of 2 bedrooms homes increased by 100%, 3 bedrooms homes inventory decreased by 14.3%, number of 4 bedrooms homes increased by 100%, the quantity of 5 bedrooms homes have not changed. While more than 1 listings in Lake Isabella, MI in May 2022 were sold above asking price, there were more than 0 listings sold at asking price, and more than 2 were sold below.

Related Housing Market Reports