Is Lower Burns Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lower Burns Park has remained a Seller's Market.
Housing Prices in Lower Burns Park, MI
How much do homes in Lower Burns Park, MI cost?
Median Sold Price
$640,125
$423/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lower Burns Park was $640,125 in April 2024, up 28.3% from last year, and the median price per square foot was $423.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $373K | N/A |
2 Bedrooms | $378.5K | $580K | +53.2% |
3 Bedrooms | $494.5K | $640.1K | +29.4% |
4 Bedrooms | $739K | $700K | -5.3% |
5+ Bedrooms | $1.0M | - | N/A |
Summary: Lower Burns Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 53.2%, 3 bedroom homes increased by 29.4%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Lower Burns Park | $499K | $640.1K | +28.3% |
Central | $600K | $600K | 0.0% |
North Burns Park | $910K | $905K | -0.5% |
Housing Supply in Lower Burns Park, MI
How many homes are available in Lower Burns Park, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 4 | +100.0% |
Summary: The Lower Burns Park real estate market had 4 homes for sale in April 2024, a 100.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 0 | 1 | +100.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lower Burns Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Lower Burns Park in April 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lower Burns Park, MI
How long does it take to sell a home in Lower Burns Park, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
52 Days | 19 Days | -63.5% |
Summary: Homes in Lower Burns Park had an average of 19 days on market in Apr 2024, down by 63.5% compared to last year.
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
Summary: During April 2024, 1 homes were sold in Lower Burns Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.