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 Last Month
Since last month, 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
$339,000
$218/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Long Lake Township have sold for 31.5% less than they did a month ago.
Summary: The median home sold price in Long Lake Township was $339,000 in March 2024, down 31.5% from last month, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $271.6K | N/A |
| 3 Bedrooms | $450K | $452.5K | +0.6% |
| 4 Bedrooms | $539.9K | $529K | -2.0% |
| 5+ Bedrooms | - | $206.2K | N/A |
Summary: Long Lake Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Garfield Charter Township | $360.5K | $344K | -4.6% |
| Long Lake Township | $494.9K | $339K | -31.5% |
Housing Supply in Long Lake Township, MI
How many homes are available in Long Lake Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 34 | +17.2% |
Summary: The Long Lake Township real estate market had 34 homes for sale in March 2024, a 17.2% increase 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 | 8 | 9 | +12.5% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Long Lake 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 increased by 12.5%, 3 bedroom homes increased by 21.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 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. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Long Lake Township in March 2024, up by 50.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 63 Days | 52 Days | -17.7% |
Summary: Homes in Long Lake Township had an average of 52 days on market in Mar 2024, down by 17.7% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Long Lake Township has remained consistent over time.
Summary: During March 2024, 9 homes were sold in Long Lake Township; 33% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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