Is Sylvan Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Sylvan Lake has remained a Seller's Market.
Key Takeaway
Sylvan Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sylvan Lake, MI
How much do homes in Sylvan Lake, MI cost?
Median Sold Price
$366,000
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Sylvan Lake have sold for 18.1% more than they did a year ago.
Summary: The median home sold price in Sylvan Lake was $366,000 in November 2023, up 18.1% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $245K | $254.9K | +4.0% |
| 3 Bedrooms | $310K | $366K | +18.1% |
| 4 Bedrooms | $652.5K | $640K | -1.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Sylvan Lake housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 18.1%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Sylvan Lake | $310K | $366K | +18.1% |
| Pontiac | $120K | $132.6K | +10.6% |
| Waterford Charter Township | $238.7K | $247K | +3.4% |
| West Bloomfield Charter Township | $392.5K | $397.8K | +1.4% |
| West Bloomfield | $399.8K | $400K | 0.0% |
Housing Supply in Sylvan Lake, MI
How many homes are available in Sylvan Lake, MI?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Summary: The Sylvan Lake real estate market had 5 homes for sale in November 2023, a 37.5% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sylvan Lake housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sylvan Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Sylvan Lake in November 2023, down by 80.0% month-over-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 Sylvan Lake, MI
How long does it take to sell a home in Sylvan Lake, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sylvan Lake has remained consistent over time.
Summary: During November 2023, 1 homes were sold in Sylvan Lake; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.