Is White 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, White Lake has remained a Seller's Market.
Key Takeaway
White Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in White Lake, MI
How much do homes in White Lake, MI cost?
Median Sold Price
$387,140
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in White Lake have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in White Lake was $387,140 in March 2024, up 10.6% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $182K | -31.3% |
| 2 Bedrooms | $242.5K | $296K | +22.1% |
| 3 Bedrooms | $311K | $341K | +9.6% |
| 4 Bedrooms | $425K | $447.9K | +5.4% |
| 5+ Bedrooms | $500K | $525K | +5.0% |
Summary: White Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.3%, 2 bedroom homes increased by 22.1%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
| Commerce Township | $400K | $457.4K | +14.3% |
| Commerce Charter Township | $334.3K | $380K | +13.7% |
| White Lake | $350K | $387.1K | +10.6% |
| White Lake Charter Township | $350K | $386.9K | +10.5% |
| Waterford | $244.8K | $249.2K | +1.8% |
Housing Supply in White Lake, MI
How many homes are available in White Lake, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 86 | 102 | +18.6% |
Summary: The White Lake real estate market had 102 homes for sale in March 2024, a 18.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 40 | 49 | +22.5% |
| 4 Bedrooms | 30 | 37 | +23.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The White Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 25 | +78.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in White Lake, you may be able to get a good deal. 52% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in White Lake in March 2024, up by 78.6% month-over-month. Of the 25 sold homes, 52% were sold under asking, 16% were sold at asking, and 32% were sold over asking.
Days on Market for White Lake, MI
How long does it take to sell a home in White Lake, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 172 Days | 37 Days | -78.3% |
Summary: Homes in White Lake had an average of 37 days on market in Mar 2024, down by 78.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in White Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in White Lake; 64% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.