Is Lyon Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Lyon Township was a Seller's Market.
Key Takeaway
Lyon Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lyon Township, MI
How much do homes in Lyon Township, MI cost?
Median Sold Price
$184,500
$258/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Lyon Township have sold for 16.1% less than they did a month ago.
Summary: The median home sold price in Lyon Township was $184,500 in March 2024, down 16.1% from last month, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $200K | $180K | -10.0% |
| 3 Bedrooms | - | $234.7K | N/A |
| 4 Bedrooms | $775K | - | N/A |
| 5+ Bedrooms | $220K | - | N/A |
Summary: Lyon 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 decreased by 10%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lyon Township | $220K | $184.5K | -16.1% |
| Beaver Creek Township | $193.9K | $128.5K | -33.7% |
Housing Supply in Lyon Township, MI
How many homes are available in Lyon Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 18 | +63.6% |
Summary: The Lyon Township real estate market had 18 homes for sale in March 2024, a 63.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 3 | 9 | +200.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lyon 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 20%, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lyon Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Lyon Township in March 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Lyon Township, MI
We’re sorry, we don't have information for this market at the moment
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