Is White 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, 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
$388,760
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in White Lake have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in White Lake was $388,760 in June 2024, up 9.4% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $174K | -34.3% |
| 2 Bedrooms | $268K | $288.4K | +7.6% |
| 3 Bedrooms | $312.9K | $353.7K | +13.0% |
| 4 Bedrooms | $423.5K | $450.5K | +6.4% |
| 5+ Bedrooms | $500K | $552.5K | +10.5% |
Summary: White Lake housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.3%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
| White Lake | $355.4K | $388.7K | +9.4% |
| White Lake Charter Township | $355.4K | $388.4K | +9.3% |
| Commerce Township | $419.6K | $457.7K | +9.1% |
| Commerce Charter Township | $347.8K | $371.4K | +6.8% |
| Waterford | $240.6K | $254.9K | +6.0% |
Housing Supply in White Lake, MI
How many homes are available in White Lake, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 128 | 120 | -6.3% |
Summary: The White Lake real estate market had 120 homes for sale in June 2024, a 6.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 20 | 21 | +5.0% |
| 3 Bedrooms | 57 | 53 | -7.0% |
| 4 Bedrooms | 45 | 39 | -13.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The White Lake housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 7%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 41 | 22 | -46.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in White Lake, you could pay more than the asking price. 40.9% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in White Lake in June 2024, down by 46.3% month-over-month. Of the 22 sold homes, 36% were sold under asking, 23% were sold at asking, and 41% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 68 Days | 35 Days | -48.4% |
Summary: Homes in White Lake had an average of 35 days on market in Jun 2024, down by 48.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 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 June 2024, 22 homes were sold in White Lake; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% 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.