Is Twin 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, Twin Lake has remained a Seller's Market.
Key Takeaway
Twin Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Twin Lake, MI
How much do homes in Twin Lake, MI cost?
Median Sold Price
$270,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Twin Lake have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Twin Lake was $270,000 in March 2024, up 7.9% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $162.7K | -41.9% |
| 2 Bedrooms | $179K | $205.6K | +14.9% |
| 3 Bedrooms | $244K | $267K | +9.4% |
| 4 Bedrooms | $285K | $315K | +10.5% |
| 5+ Bedrooms | $345K | $323K | -6.4% |
Summary: Twin Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41.9%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Twin Lake | $250.1K | $270K | +7.9% |
| Dalton Township | $240K | $257K | +7.1% |
| Cedar Creek Township | $225K | $210.9K | -6.3% |
Housing Supply in Twin Lake, MI
How many homes are available in Twin Lake, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 36 | 0.0% |
Summary: The Twin Lake real estate market had 36 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Twin 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 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Twin Lake, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Twin Lake in March 2024, up by 14.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Twin Lake, MI
How long does it take to sell a home in Twin Lake, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 30 Days | -6.9% |
Summary: Homes in Twin Lake had an average of 30 days on market in Mar 2024, down by 6.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Twin Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Twin Lake; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
