Is Lake Township, 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, Lake Township was a Neutral Market.
Housing Prices in Lake Township, MI
How much do homes in Lake Township, MI cost?
Median Sold Price
$140,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Township was $140,000 in April 2024, up 6.1% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69K | $59.9K | -13.2% |
2 Bedrooms | $85K | $140K | +64.7% |
3 Bedrooms | $158.9K | $176.2K | +10.9% |
4 Bedrooms | - | $242.4K | N/A |
5+ Bedrooms | $475K | $536K | +12.8% |
Summary: Lake Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.2%, 2 bedroom homes increased by 64.7%, 3 bedroom homes increased by 10.9%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
Lake Township | $132K | $140K | +6.1% |
Pleasant Plains Township | $124.9K | $132.4K | +6.0% |
Troy Township | $386.8K | $404.3K | +4.5% |
Housing Supply in Lake Township, MI
How many homes are available in Lake Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 44 | +46.7% |
Summary: The Lake Township real estate market had 44 homes for sale in April 2024, a 46.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 8 | +33.3% |
2 Bedrooms | 13 | 17 | +30.8% |
3 Bedrooms | 10 | 16 | +60.0% |
4 Bedrooms | 0 | 2 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 4 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake Township in April 2024, down by 50.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Township, MI
How long does it take to sell a home in Lake Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
160 Days | 111 Days | -30.3% |
Summary: Homes in Lake Township had an average of 111 days on market in Apr 2024, down by 30.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Lake Township; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.