Is Whitmore Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Whitmore Lake was a Buyer's Market.
Key Takeaway
Whitmore Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Whitmore Lake, MI
How much do homes in Whitmore Lake, MI cost?
Median Sold Price
$380,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Whitmore Lake have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Whitmore Lake was $380,000 in March 2024, up 8.6% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $357.5K | N/A |
| 2 Bedrooms | $261.5K | $236.5K | -9.6% |
| 3 Bedrooms | $320.5K | $351.2K | +9.6% |
| 4 Bedrooms | $415K | $452.5K | +9.0% |
| 5+ Bedrooms | $550.1K | $409K | -25.7% |
Summary: Whitmore Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.6%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 9%, and 5+ bedroom homes decreased by 25.7%.
Median Sold Price Compared To Nearby Cities
| Whitmore Lake | $350K | $380K | +8.6% |
| Hamburg Township | $381K | $406.6K | +6.7% |
| Webster Township | $543K | $532K | -2.0% |
Housing Supply in Whitmore Lake, MI
How many homes are available in Whitmore Lake, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 26 | +8.3% |
Summary: The Whitmore Lake real estate market had 26 homes for sale in March 2024, a 8.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Whitmore Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Whitmore Lake, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Whitmore Lake in March 2024, up by 350.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 0% were sold at asking, and 44% were sold over asking.
Days on Market for Whitmore Lake, MI
How long does it take to sell a home in Whitmore Lake, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 17 Days | -63.8% |
Summary: Homes in Whitmore Lake had an average of 17 days on market in Mar 2024, down by 63.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Whitmore Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Whitmore Lake; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
