Is New Lothrop, 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, New Lothrop has remained a Seller's Market.
Key Takeaway
New Lothrop is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Lothrop, MI
How much do homes in New Lothrop, MI cost?
Median Sold Price
$195,597
$137/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in New Lothrop have sold for 4.6% less than they did a month ago.
Summary: The median home sold price in New Lothrop was $195,597 in April 2024, down 4.6% from last month, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $75K | $195.5K | +160.8% |
| 4 Bedrooms | $335K | $200K | -40.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: New Lothrop housing prices by bedroom type for April 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 160.8%, 4 bedroom homes decreased by 40.3%, and 5+ bedroom homes did not change.
Housing Supply in New Lothrop, MI
How many homes are available in New Lothrop, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Summary: The New Lothrop real estate market had 5 homes for sale in April 2024, a 28.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The New Lothrop housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Lothrop, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in New Lothrop in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for New Lothrop, MI
How long does it take to sell a home in New Lothrop, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 156 Days | 13 Days | -91.7% |
Summary: Homes in New Lothrop had an average of 13 days on market in Apr 2024, down by 91.7% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Lothrop are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in New Lothrop; 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.
