Is Lapeer, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lapeer has remained a Seller's Market.
Housing Prices in Lapeer, MI
How much do homes in Lapeer, MI cost?
Median Sold Price
$254,900
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lapeer was $254,900 in April 2024, up 14% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $151K | $106K | -29.8% |
2 Bedrooms | $165K | $228.4K | +38.5% |
3 Bedrooms | $220K | $230K | +4.5% |
4 Bedrooms | $260K | $324.9K | +25.0% |
5+ Bedrooms | $437.5K | $434.5K | -0.7% |
Summary: Lapeer housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.8%, 2 bedroom homes increased by 38.5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
Oregon Township | $220K | $261K | +18.6% |
Elba Township | $254.5K | $300K | +17.9% |
Lapeer | $223.6K | $254.9K | +14.0% |
Lapeer Township | $229.9K | $251.6K | +9.4% |
Mayfield Township | $240K | $250K | +4.2% |
Housing Supply in Lapeer, MI
How many homes are available in Lapeer, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
81 | 98 | +21.0% |
Summary: The Lapeer real estate market had 98 homes for sale in April 2024, a 21.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 15 | +36.4% |
3 Bedrooms | 48 | 53 | +10.4% |
4 Bedrooms | 16 | 25 | +56.3% |
5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Lapeer housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 56.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 27 | +42.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Lapeer in April 2024, up by 42.1% month-over-month. Of the 27 sold homes, 33% were sold under asking, 19% were sold at asking, and 48% were sold over asking.
Days on Market for Lapeer, MI
How long does it take to sell a home in Lapeer, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 48 Days | +67.7% |
Summary: Homes in Lapeer had an average of 48 days on market in Apr 2024, up by 67.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in Lapeer; 74% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.