Is Wolverine 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, Wolverine Lake has remained a Seller's Market.
Key Takeaway
Wolverine Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wolverine Lake, MI
How much do homes in Wolverine Lake, MI cost?
Median Sold Price
$300,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wolverine Lake have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Wolverine Lake was $300,000 in March 2024, up 7.1% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $225K | $257.5K | +14.4% |
| 3 Bedrooms | $270K | $300K | +11.1% |
| 4 Bedrooms | $509K | $420K | -17.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Wolverine 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 increased by 14.4%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 17.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Commerce Charter Township | $334.3K | $380K | +13.7% |
| Wolverine Lake | $280K | $300K | +7.1% |
| Walled Lake | $249.9K | $264.9K | +6.0% |
Housing Supply in Wolverine Lake, MI
How many homes are available in Wolverine Lake, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Summary: The Wolverine Lake real estate market had 15 homes for sale in March 2024, a 25.0% 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 | 1 | 3 | +200.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Wolverine 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 increased by 200%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wolverine Lake, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Wolverine Lake in March 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Wolverine Lake, MI
How long does it take to sell a home in Wolverine Lake, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wolverine Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Wolverine Lake; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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