Is Long Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Long Lake Township has remained a Seller's Market.
Key Takeaway
Long Lake Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Long Lake Township, MI
How much do homes in Long Lake Township, MI cost?
Median Sold Price
$459,250
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Long Lake Township have sold for 7.1% less than they did a year ago.
Summary: The median home sold price in Long Lake Township was $459,250 in June 2024, down 7.1% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $217.5K | $325K | +49.4% |
| 3 Bedrooms | $469K | $435K | -7.2% |
| 4 Bedrooms | $532K | $578K | +8.6% |
| 5+ Bedrooms | $525K | $592K | +12.8% |
Summary: Long Lake Township 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 49.4%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
| Interlochen | $294.9K | $349.9K | +18.6% |
| Green Lake Township | $340K | $367.4K | +8.1% |
| Long Lake Township | $494.5K | $459.2K | -7.1% |
| Garfield Charter Township | $410K | $365K | -11.0% |
Housing Supply in Long Lake Township, MI
How many homes are available in Long Lake Township, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 63 | 61 | -3.2% |
Summary: The Long Lake Township real estate market had 61 homes for sale in June 2024, a 3.2% 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 | 8 | 7 | -12.5% |
| 3 Bedrooms | 37 | 36 | -2.7% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Long Lake Township 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 decreased by 12.5%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Long Lake Township, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Long Lake Township in June 2024, the same as the previous month. Of the 19 sold homes, 58% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for Long Lake Township, MI
How long does it take to sell a home in Long Lake Township, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 54 Days | 50 Days | -8.2% |
Summary: Homes in Long Lake Township had an average of 50 days on market in Jun 2024, down by 8.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Long Lake Township has remained consistent over time.
Summary: During June 2024, 19 homes were sold in Long Lake Township; 26% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.