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 September 2021

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.

How much do homes in Walled Lake, MI cost?

Median Sold Price

$215,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$21,500(+11.1%)

Key Takeaway

Homes in Walled Lake have sold for 11.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $135.7K$156.7K
+15.5%
2 $165K$170.5K
+3.3%
3 $240.5K$265K
+10.2%
4 $440.4K$266K
-39.6%
5+ $644K-
N/A

Median Sold Price Compared To Nearby Cities

Walled Lake
+11.1%
Novi
+8.8%
Wolverine Lake
+7.5%
Commerce Charter Township
+6.4%

How many homes are available in Walled Lake, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
2431+29.2%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 11
0.0%
2 1015
+50.0%
3 79
+28.6%
4 66
0.0%
5+ 00
0.0%

Number of Homes Sold

Aug 2022Sep 2022%
312+300.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were 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.

Average Sale Time

Sep 2021Sep 2022%
11 Days35 Days+218.6%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

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

About Walled Lake, MI

Number of homes for sale in Walled Lake, MI real estate market have reached 31. Between August 2022 and September 2022, Walled Lake, MI real estate market has seen increase in the number of listings by 29.2%. The median list price of listings available in September 2022 was $215,000, while the average time on the real estate market was 35 days. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 15.5%, 2 bedrooms properties became 3.3% more expensive, prices of 3 bedrooms properties went up by 10.2%, 4 bedrooms properties became 39.6% more cheaper, prices of 5 bedrooms properties went up by 0%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes inventory increased by 50%, the quantity of 3 bedrooms homes went up by 28.6%, the quantity of 4 bedrooms homes have not changed, 5 bedrooms homes inventory did not change. While more than 3 listings in Walled Lake, MI in September 2022 were sold above asking price, there were more than 0 listings sold at asking price, and more than 9 were sold below.

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