Is Belknap Lookout, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Belknap Lookout has remained a Seller's Market.
Housing Prices in Belknap Lookout, MI
How much do homes in Belknap Lookout, MI cost?
Median Sold Price
$259,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Belknap Lookout was $259,000 in May 2024, up 15.1% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $247.2K | +12.4% |
2 Bedrooms | $216K | $312.5K | +44.7% |
3 Bedrooms | $225K | $239.9K | +6.6% |
4 Bedrooms | $240K | $235K | -2.1% |
5+ Bedrooms | $230K | - | N/A |
Summary: Belknap Lookout housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 44.7%, 3 bedroom homes increased by 6.6%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Belknap Lookout | $225K | $259K | +15.1% |
Midtown | $250K | $285K | +14.0% |
Heritage Hill | $345K | $308.5K | -10.6% |
Heartside | $410K | $360K | -12.2% |
Housing Supply in Belknap Lookout, MI
How many homes are available in Belknap Lookout, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 22 | -4.3% |
Summary: The Belknap Lookout real estate market had 22 homes for sale in May 2024, a 4.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 5 | 7 | +40.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Belknap Lookout housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 8 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Belknap Lookout in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Belknap Lookout, MI
How long does it take to sell a home in Belknap Lookout, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 9 Days | -78.4% |
Summary: Homes in Belknap Lookout had an average of 9 days on market in May 2024, down by 78.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Belknap Lookout; 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.