Is Lima Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
Since last year, Lima Township has remained a Seller's Market.
Key Takeaway
Lima Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Lima Township, MI cost?
Median Sold Price
$390,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
+$33,000(+9.2%)
Key Takeaway
Homes in Lima Township have sold for 9.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $550K | $505K | -8.2% |
| 3 Bedrooms | $325.5K | $367K | +12.7% |
| 4 Bedrooms | $357K | $395K | +10.6% |
| 5+ Bedrooms | $611K | $832.5K | +36.3% |
Median Sold Price Compared To Nearby Cities
| Chelsea | $310K | $360K | +16.1% |
| Lima Township | $357K | $390K | +9.2% |
| Sylvan Township | $400K | $425K | +6.3% |
| Dexter Township | $440K | $465K | +5.7% |
| Webster Township | $520K | $533.5K | +2.6% |
How many homes are available in Lima Township, MI?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 5 | 7 | +40.0% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lima Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
How long does it take to sell a home in Lima Township, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lima Township are selling fast, if you're buying plan to act quickly.
