Is Walled Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$272,250
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Walled Lake was $272,250 in June 2024, up 6.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $167K | $197.5K | +18.3% |
2 Bedrooms | $226.2K | $257K | +13.6% |
3 Bedrooms | $310K | $310.5K | 0.2% |
4 Bedrooms | $505K | $375K | -25.7% |
5+ Bedrooms | $620K | $777.5K | +25.4% |
Summary: Walled Lake housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.3%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 25.7%, and 5+ bedroom homes increased by 25.4%.
Median Sold Price Compared To Nearby Cities
Wolverine Lake | $270.5K | $295K | +9.1% |
Walled Lake | $255K | $272.2K | +6.8% |
Commerce Charter Township | $347.8K | $371.4K | +6.8% |
Novi | $435K | $438.5K | +0.8% |
Housing Supply in Walled Lake, MI
How many homes are available in Walled Lake, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
56 | 49 | -12.5% |
Summary: The Walled Lake real estate market had 49 homes for sale in June 2024, a 12.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 19 | 17 | -10.5% |
3 Bedrooms | 28 | 26 | -7.1% |
4 Bedrooms | 8 | 6 | -25.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Walled Lake housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
18 | 10 | -44.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Walled Lake in June 2024, down by 44.4% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
18 Days | 17 Days | -4.2% |
Summary: Homes in Walled Lake had an average of 17 days on market in Jun 2024, down by 4.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 10 homes were sold in Walled Lake; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.