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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Laketon Township is a seller's market

Buyer's
Market

Difference Since September 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 September 2023

+$30,000(+11.5%)

Key Takeaway

Homes in Laketon Township have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in Laketon Township was $290,000 in September 2024, up 11.5% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $197.5K$221.5K
+12.2%
3 $220K$274.9K
+25.0%
4 $279.1K$325K
+16.4%
5+ $449K$497.5K
+10.8%

Summary: Laketon Township 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 increased by 12.2%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 10.8%.

Median Sold Price Compared To Nearby Cities

Fruitland Township
+15.9%
North Muskegon
+12.5%
Laketon Township
+11.5%
Muskegon
+8.3%
Muskegon Charter Township
+7.5%

Housing Supply in Laketon Township, MI

How many homes are available in Laketon Township, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3626-27.8%

Summary: The Laketon Township real estate market had 26 homes for sale in September 2024, a 27.8% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 42
-50.0%
3 2417
-29.2%
4 87
-12.5%
5+ 00
0.0%

Summary: The Laketon Township 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 decreased by 50%, 3 bedroom homes decreased by 29.2%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
156-60.0%

Asking Price vs. Sold Price

5 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 Laketon Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Laketon Township in September 2024, down by 60.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% 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

Sep 2023Sep 2024CHANGE
27 Days43 Days+56.7%

Summary: Homes in Laketon Township had an average of 43 days on market in Sep 2024, up by 56.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 6 homes were sold in Laketon Township; 67% of homes were sold within 30 days, 0% 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 Laketon Township, MI

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