Is Lake Odessa, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake Odessa has remained a Seller's Market.
Housing Prices in Lake Odessa, MI
How much do homes in Lake Odessa, MI cost?
Median Sold Price
$221,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Odessa was $221,000 in April 2024, up 28.1% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $167.5K | N/A |
2 Bedrooms | $197.5K | $250K | +26.6% |
3 Bedrooms | $170K | $202K | +18.8% |
4 Bedrooms | $183.7K | $255K | +38.8% |
5+ Bedrooms | $199.9K | $281.3K | +40.7% |
Summary: Lake Odessa housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.6%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 38.8%, and 5+ bedroom homes increased by 40.7%.
Median Sold Price Compared To Nearby Cities
Lake Odessa | $172.5K | $221K | +28.1% |
Odessa Township | $182.5K | $216K | +18.4% |
Housing Supply in Lake Odessa, MI
How many homes are available in Lake Odessa, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Summary: The Lake Odessa real estate market had 11 homes for sale in April 2024, a 10.0% 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 | 2 | 1 | -50.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Lake Odessa 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 decreased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Lake Odessa in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Lake Odessa, MI
How long does it take to sell a home in Lake Odessa, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Lake Odessa; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.