Is Lenox 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, Lenox Township has remained a Seller's Market.
Key Takeaway
Lenox Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lenox Township, MI
How much do homes in Lenox Township, MI cost?
Median Sold Price
$285,500
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lenox Township have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in Lenox Township was $285,500 in March 2024, down 2.9% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $159.9K | $157.5K | -1.6% |
| 3 Bedrooms | $272K | $270K | -0.7% |
| 4 Bedrooms | $342.7K | $322.8K | -5.8% |
| 5+ Bedrooms | $350K | $362.5K | +3.6% |
Summary: Lenox Township 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 decreased by 1.6%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Richmond | $248.5K | $304.5K | +22.5% |
| Lenox Township | $294.1K | $285.5K | -2.9% |
Housing Supply in Lenox Township, MI
How many homes are available in Lenox Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Summary: The Lenox Township real estate market had 12 homes for sale in March 2024, a 20.0% decrease 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Lenox 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 remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lenox Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Lenox Township in March 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lenox Township, MI
How long does it take to sell a home in Lenox Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 10 Days | 52 Days | +413.8% |
Summary: Homes in Lenox Township had an average of 52 days on market in Mar 2024, up by 413.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lenox Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Lenox Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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.