Is Whitmore Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Whitmore Lake was a Seller's Market.
Housing Prices in Whitmore Lake, MI
How much do homes in Whitmore Lake, MI cost?
Median Sold Price
$381,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Whitmore Lake was $381,000 in February 2024, up 8.9% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $357.5K | N/A |
2 Bedrooms | $253K | $238K | -5.9% |
3 Bedrooms | $315K | $353.7K | +12.3% |
4 Bedrooms | $420.5K | $495K | +17.7% |
5+ Bedrooms | $622.1K | $409K | -34.3% |
Summary: Whitmore Lake housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes decreased by 34.3%.
Median Sold Price Compared To Nearby Cities
Whitmore Lake | $350K | $381K | +8.9% |
Hamburg Township | $385K | $403K | +4.7% |
Webster Township | $543K | $562K | +3.5% |
Housing Supply in Whitmore Lake, MI
How many homes are available in Whitmore Lake, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
22 | 26 | +18.2% |
Summary: The Whitmore Lake real estate market had 26 homes for sale in February 2024, a 18.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 2 | -50.0% |
3 Bedrooms | 10 | 11 | +10.0% |
4 Bedrooms | 8 | 13 | +62.5% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Whitmore Lake housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 2 | -66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Whitmore Lake in February 2024, down by 66.7% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
31 Days | 99 Days | +219.4% |
Summary: Homes in Whitmore Lake had an average of 99 days on market in Feb 2024, up by 219.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 2 homes were sold in Whitmore Lake; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.