Is Lapeer 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, Lapeer Township has remained a Seller's Market.
Key Takeaway
Lapeer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lapeer Township, MI
How much do homes in Lapeer Township, MI cost?
Median Sold Price
$250,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lapeer Township have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Lapeer Township was $250,000 in March 2024, up 8.7% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189.2K | $106K | -44.0% |
| 2 Bedrooms | $162.5K | $240K | +47.7% |
| 3 Bedrooms | $224.5K | $230K | +2.4% |
| 4 Bedrooms | $265K | $324.9K | +22.6% |
| 5+ Bedrooms | $412.5K | $419K | +1.6% |
Summary: Lapeer Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44%, 2 bedroom homes increased by 47.7%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Lapeer | $222.8K | $250K | +12.2% |
| Lapeer Township | $230K | $250K | +8.7% |
| Mayfield Township | $240K | $252.4K | +5.2% |
| Metamora Township | $389.8K | $375.7K | -3.6% |
| Attica Township | $311.2K | $263.7K | -15.3% |
Housing Supply in Lapeer Township, MI
How many homes are available in Lapeer Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 73 | 81 | +11.0% |
Summary: The Lapeer Township real estate market had 81 homes for sale in March 2024, a 11.0% 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 | 10 | 11 | +10.0% |
| 3 Bedrooms | 41 | 48 | +17.1% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Lapeer 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 increased by 10%, 3 bedroom homes increased by 17.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lapeer Township, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Lapeer Township in March 2024, up by 30.8% month-over-month. Of the 17 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.
Days on Market for Lapeer Township, MI
How long does it take to sell a home in Lapeer Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 25 Days | -62.0% |
Summary: Homes in Lapeer Township had an average of 25 days on market in Mar 2024, down by 62% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lapeer Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in Lapeer Township; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
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