Is Lathrup Village, 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, Lathrup Village has remained a Seller's Market.
Housing Prices in Lathrup Village, MI
How much do homes in Lathrup Village, MI cost?
Median Sold Price
$309,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lathrup Village was $309,000 in March 2024, down 2.8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $171.5K | $174K | +1.5% |
3 Bedrooms | $301.2K | $302.8K | 0.5% |
4 Bedrooms | $355K | $350K | -1.4% |
5+ Bedrooms | $321.5K | $517.5K | +61.0% |
Summary: Lathrup Village 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 1.5%, 3 bedroom homes increased by 0.5%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 61%.
Median Sold Price Compared To Nearby Cities
Southfield | $215K | $220.7K | +2.7% |
Lathrup Village | $318K | $309K | -2.8% |
Housing Supply in Lathrup Village, MI
How many homes are available in Lathrup Village, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 8 | 0.0% |
Summary: The Lathrup Village real estate market had 8 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lathrup Village 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 50%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Lathrup Village in March 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Lathrup Village, MI
How long does it take to sell a home in Lathrup Village, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
83 Days | 15 Days | -81.9% |
Summary: Homes in Lathrup Village had an average of 15 days on market in Mar 2024, down by 81.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Lathrup Village; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.