Is Sylvan Lake, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sylvan Lake is a neutral's market

Buyer's
Market

Difference Since September 2021

At the same time last year, Sylvan Lake was a Seller's Market.

Key Takeaway

Sylvan Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Sylvan Lake, MI cost?

Median Sold Price

$295,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$19,000(+6.9%)

Key Takeaway

Homes in Sylvan Lake have sold for 6.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 --
N/A
2 $275K$254.5K
-7.4%
3 $266.7K$302.5K
+13.4%
4 $345K$810K
+134.8%
5+ --
N/A

Median Sold Price Compared To Nearby Cities

Keego Harbor
+20.6%
Pontiac
+9.3%
West Bloomfield Charter Township
+7.7%
Waterford Charter Township
+7.0%
Sylvan Lake
+6.9%

How many homes are available in Sylvan Lake, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
87-12.5%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 00
0.0%
2 10
-100.0%
3 77
0.0%
4 00
0.0%
5+ 00
0.0%

Number of Homes Sold

Aug 2022Sep 2022%
41-75.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sylvan Lake, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Sep 2021Sep 2022%
14 Days8 Days-44.8%

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Sylvan Lake are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Sylvan Lake, MI

Sylvan Lake, MI has 7 homes on the market. The number of listings in Sylvan Lake, MI decreased by 12.5% between August 2022 and September 2022. While the average time on the market in September 2022 was 8 days, the median list price was $295,000. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties went down by 7.4%, the cost of 3 bedrooms properties went up by 13.4%, prices of 4 bedrooms properties increased by 134.8%, prices of 5 bedrooms properties went up by 0%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, number of 2 bedrooms homes decreased by 100%, volume of 3 bedrooms homes stayed the same, volume of 4 bedrooms homes stayed the same, volume of 5 bedrooms homes stayed the same. In September 2022, from all listings sold in Sylvan Lake, MI there were more than 1 sold above asking price, over 0 sold below and more than 0 were sold right at the asked price.

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