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 neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Lake Isabella was a Seller's Market.

Key Takeaway

Lake Isabella is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Lake Isabella, MI

How much do homes in Lake Isabella, MI cost?

Median Sold Price

$250,000

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$72,000(+40.4%)

Key Takeaway

Homes in Lake Isabella have sold for 40.4% more than they did a year ago.

Summary: The median home sold price in Lake Isabella was $250,000 in September 2024, up 40.4% from last year, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $164K$150K
-8.5%
3 $157.5K$252K
+60.0%
4 $228K$307.5K
+34.9%
5+ $1.1M$945K
-19.6%

Summary: Lake Isabella housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.5%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 34.9%, and 5+ bedroom homes decreased by 19.6%.

Median Sold Price Compared To Nearby Cities

Lake Isabella
+40.4%
Weidman
+7.4%
Sherman Township
-4.9%

Housing Supply in Lake Isabella, MI

How many homes are available in Lake Isabella, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1618+12.5%

Summary: The Lake Isabella real estate market had 18 homes for sale in September 2024, a 12.5% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1112
+9.1%
4 24
+100.0%
5+ 10
-100.0%

Summary: The Lake Isabella housing inventory by bedroom type for September 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 9.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were 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. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Lake Isabella in September 2024, up by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Lake Isabella, MI

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

Average Sale Time

Sep 2023Sep 2024CHANGE
81 Days59 Days-26.3%

Summary: Homes in Lake Isabella had an average of 59 days on market in Sep 2024, down by 26.3% compared to last year.

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.

Summary: During September 2024, 3 homes were sold in Lake Isabella; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 30 Days Ago

Newest Listings in Lake Isabella, MI

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