Is Lathrup Village, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Lathrup Village was a Seller's Market.
Housing Prices in Lathrup Village, MI
How much do homes in Lathrup Village, MI cost?
Median Sold Price
$324,500
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Lathrup Village was $324,500 in June 2024, up 1.4% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $164K | $169K | +3.0% |
3 Bedrooms | $295.5K | $305K | +3.2% |
4 Bedrooms | $355K | $350K | -1.4% |
5+ Bedrooms | $333K | $525K | +57.7% |
Summary: Lathrup Village housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 57.7%.
Median Sold Price Compared To Nearby Cities
Southfield | $215K | $225.1K | +4.7% |
Lathrup Village | $320K | $324.5K | +1.4% |
Housing Supply in Lathrup Village, MI
How many homes are available in Lathrup Village, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Summary: The Lathrup Village real estate market had 6 homes for sale in June 2024, a 25.0% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 4 | 4 | 0.0% |
4 Bedrooms | 4 | 2 | -50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lathrup Village housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Lathrup Village in June 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
5 Days | 31 Days | +463.6% |
Summary: Homes in Lathrup Village had an average of 31 days on market in Jun 2024, up by 463.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 1 homes were sold in Lathrup Village; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.