Is Laketon Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Laketon Township has remained a Seller's Market.
Key Takeaway
Laketon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Laketon Township, MI
How much do homes in Laketon Township, MI cost?
Median Sold Price
$290,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Laketon Township have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in Laketon Township was $290,000 in March 2024, up 18.4% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | - | N/A |
| 2 Bedrooms | $225K | $234K | +4.0% |
| 3 Bedrooms | $231K | $274.9K | +19.0% |
| 4 Bedrooms | $275K | $332.2K | +20.8% |
| 5+ Bedrooms | $489K | $373K | -23.7% |
Summary: Laketon Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes decreased by 23.7%.
Median Sold Price Compared To Nearby Cities
| Fruitland Township | $290K | $349.9K | +20.7% |
| Laketon Township | $245K | $290K | +18.4% |
| Muskegon | $155K | $180K | +16.1% |
| North Muskegon | $249K | $277.4K | +11.4% |
| Muskegon Charter Township | $169.4K | $180K | +6.2% |
Housing Supply in Laketon Township, MI
How many homes are available in Laketon Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Laketon Township real estate market had 21 homes for sale in March 2024, a 5.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Laketon 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 27.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laketon Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Laketon Township in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for Laketon Township, MI
How long does it take to sell a home in Laketon Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 67 Days | +295.1% |
Summary: Homes in Laketon Township had an average of 67 days on market in Mar 2024, up by 295.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laketon Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Laketon Township; 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.
