Is Sylvan Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Sylvan Lake has remained a Seller's Market.
Housing Prices in Sylvan Lake, MI
How much do homes in Sylvan Lake, MI cost?
Median Sold Price
$305,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Sylvan Lake was $305,000 in March 2024, down 6.9% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $272K | $227.4K | -16.4% |
3 Bedrooms | $325K | $280K | -13.8% |
4 Bedrooms | $555K | $645K | +16.2% |
5+ Bedrooms | - | $650.5K | N/A |
Summary: Sylvan Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.4%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Pontiac | $120.9K | $134.9K | +11.6% |
West Bloomfield Charter Township | $389.8K | $399.4K | +2.5% |
Waterford Charter Township | $244.7K | $249.3K | +1.9% |
West Bloomfield | $400K | $400.2K | 0.1% |
Sylvan Lake | $327.5K | $305K | -6.9% |
Housing Supply in Sylvan Lake, MI
How many homes are available in Sylvan Lake, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Summary: The Sylvan Lake real estate market had 5 homes for sale in March 2024, a 25.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 1 | 3 | +200.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Sylvan Lake 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Sylvan Lake in March 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% 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
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Sylvan Lake; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.