Is Lathrup Village, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lathrup Village is a buyer's market

Buyer's
Market

Difference Since September 2021

At the same time last year, Lathrup Village was a Seller's Market.

Key Takeaway

Lathrup Village is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Lathrup Village, MI cost?

Median Sold Price

$303,999

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$30,749(+11.3%)

Key Takeaway

Homes in Lathrup Village have sold for 11.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 --
N/A
2 $162.7K$208.3K
+28.0%
3 $275K$295K
+7.3%
4 $290K$355K
+22.4%
5+ $333K$344.5K
+3.5%

Median Sold Price Compared To Nearby Cities

Lathrup Village
+11.3%
Southfield
+7.8%

How many homes are available in Lathrup Village, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
2122+4.8%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 00
0.0%
2 12
+100.0%
3 1212
0.0%
4 87
-12.5%
5+ 01
+100.0%

Number of Homes Sold

Aug 2022Sep 2022%
93-66.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lathrup Village, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Sep 2021Sep 2022%
9 Days6 Days-36.8%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Lathrup Village, MI

Number of homes for sale in Lathrup Village, MI real estate market have reached 22. The number of listings in Lathrup Village, MI increased by 4.8% between August 2022 and September 2022. In September 2022, listings were on the market for 6 days. During the same period, the median list price in this real estate market was $303,999. Listing prices have changed in this real estate market between August 2022 and September 2022: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties increased by 28%, prices of 3 bedrooms properties went up by 7.3%, prices of 4 bedrooms properties increased by 22.4%, the cost of 5 bedrooms properties went up by 3.5%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory increased by 100%, number of 3 bedrooms homes remained the same, 4 bedrooms homes inventory decreased by 12.5%, 5 bedrooms homes inventory increased by 100%. Over 3 listings were sold over their listed price in September 2022 in Lathrup Village, MI. In the same period over 0 listings were sold below the listed price and 0 listings were sold for the listed price.

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