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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Walled Lake is a seller's market

Buyer's
Market

Difference Since January 2023

Since last year, Walled Lake has remained a Seller's Market.

Key Takeaway

Walled Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Walled Lake, MI

How much do homes in Walled Lake, MI cost?

Median Sold Price

$260,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$40,000(+18.2%)

Key Takeaway

Homes in Walled Lake have sold for 18.2% more than they did a year ago.

Summary: The median home sold price in Walled Lake was $260,000 in January 2024, up 18.2% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $165K$180.1K
+9.2%
2 $187K$239.7K
+28.2%
3 $265K$290K
+9.4%
4 $355K$450K
+26.8%
5+ $230K$780K
+239.1%

Summary: Walled Lake housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 28.2%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes increased by 239.1%.

Median Sold Price Compared To Nearby Cities

Walled Lake
+18.2%
Commerce Charter Township
+11.9%
Wolverine Lake
+3.1%
Novi
-1.7%

Housing Supply in Walled Lake, MI

How many homes are available in Walled Lake, MI?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
3834-10.5%

Summary: The Walled Lake real estate market had 34 homes for sale in January 2024, a 10.5% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 10
-100.0%
2 1716
-5.9%
3 1413
-7.1%
4 54
-20.0%
5+ 11
0.0%

Summary: The Walled Lake housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
148-42.9%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Walled Lake, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Walled Lake in January 2024, down by 42.9% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for Walled Lake, MI

How long does it take to sell a home in Walled Lake, MI?

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 8 homes were sold in Walled Lake; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 21 Days Ago

Newest Listings in Walled Lake, MI

Nearby Markets to Walled Lake, MI

What housing markets are near Walled Lake, MI?