Is Interlochen, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Interlochen has remained a Seller's Market.
Key Takeaway
Interlochen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Interlochen, MI
How much do homes in Interlochen, MI cost?
Median Sold Price
$372,500
$257/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Interlochen have sold for 20.7% less than they did a month ago.
Summary: The median home sold price in Interlochen was $372,500 in April 2024, down 20.7% from last month, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $345K | $320.5K | -7.1% |
| 3 Bedrooms | - | $464.5K | N/A |
| 4 Bedrooms | $523.5K | $282.5K | -46.0% |
| 5+ Bedrooms | $1.4M | - | N/A |
Summary: Interlochen housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.1%, 3 bedroom homes did not change, 4 bedroom homes decreased by 46%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Interlochen | $470K | $372.5K | -20.7% |
| Grawn | $442.5K | $319.5K | -27.8% |
Housing Supply in Interlochen, MI
How many homes are available in Interlochen, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 24 | +26.3% |
Summary: The Interlochen real estate market had 24 homes for sale in April 2024, a 26.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 8 | +60.0% |
| 3 Bedrooms | 5 | 10 | +100.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Interlochen housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Interlochen, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Interlochen in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Interlochen, MI
How long does it take to sell a home in Interlochen, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 139 Days | 48 Days | -65.5% |
Summary: Homes in Interlochen had an average of 48 days on market in Apr 2024, down by 65.5% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Interlochen has remained consistent over time.
Summary: During April 2024, 8 homes were sold in Interlochen; 38% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.