Is Walled 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, Walled Lake has remained a Seller's Market.
Housing Prices in Walled Lake, MI
How much do homes in Walled Lake, MI cost?
Median Sold Price
$264,900
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Walled Lake was $264,900 in March 2024, up 6% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $186.7K | +13.2% |
2 Bedrooms | $195K | $240K | +23.1% |
3 Bedrooms | $281.7K | $294.4K | +4.5% |
4 Bedrooms | $412.4K | $444K | +7.6% |
5+ Bedrooms | $230K | $777.5K | +238.0% |
Summary: Walled Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 238%.
Median Sold Price Compared To Nearby Cities
Commerce Charter Township | $334.3K | $380K | +13.7% |
Wolverine Lake | $280K | $300K | +7.1% |
Walled Lake | $249.9K | $264.9K | +6.0% |
Novi | $435.2K | $432.1K | -0.7% |
Housing Supply in Walled Lake, MI
How many homes are available in Walled Lake, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
35 | 43 | +22.9% |
Summary: The Walled Lake real estate market had 43 homes for sale in March 2024, a 22.9% 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 | 17 | 22 | +29.4% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Walled 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 increased by 29.4%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 15 | +114.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Walled Lake in March 2024, up by 114.3% month-over-month. Of the 15 sold homes, 40% were sold under asking, 27% were sold at asking, and 33% were sold over asking.
Days on Market for Walled Lake, MI
How long does it take to sell a home in Walled Lake, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 34 Days | -33.3% |
Summary: Homes in Walled Lake had an average of 34 days on market in Mar 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in Walled Lake; 53% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.