Is Lapeer Township, 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, Lapeer Township has remained a Seller's Market.
Key Takeaway
Lapeer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lapeer Township, MI
How much do homes in Lapeer Township, MI cost?
Median Sold Price
$251,633
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lapeer Township have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Lapeer Township was $251,633 in April 2024, up 9.4% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189.2K | $106K | -44.0% |
| 2 Bedrooms | $165K | $228.4K | +38.5% |
| 3 Bedrooms | $224K | $230K | +2.7% |
| 4 Bedrooms | $272K | $324.9K | +19.4% |
| 5+ Bedrooms | $412.5K | $434.5K | +5.3% |
Summary: Lapeer Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44%, 2 bedroom homes increased by 38.5%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Lapeer | $223.6K | $254.9K | +14.0% |
| Lapeer Township | $229.9K | $251.6K | +9.4% |
| Mayfield Township | $240K | $250K | +4.2% |
| Metamora Township | $389.9K | $367.5K | -5.7% |
| Attica Township | $315K | $267.5K | -15.1% |
Housing Supply in Lapeer Township, MI
How many homes are available in Lapeer Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 98 | +21.0% |
Summary: The Lapeer Township real estate market had 98 homes for sale in April 2024, a 21.0% 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 | 11 | 15 | +36.4% |
| 3 Bedrooms | 48 | 53 | +10.4% |
| 4 Bedrooms | 16 | 25 | +56.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Lapeer Township 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 36.4%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 56.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 27 | +42.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lapeer Township, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Lapeer Township in April 2024, up by 42.1% month-over-month. Of the 27 sold homes, 33% were sold under asking, 19% were sold at asking, and 48% were sold over asking.
Days on Market for Lapeer Township, MI
How long does it take to sell a home in Lapeer Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 48 Days | +67.7% |
Summary: Homes in Lapeer Township had an average of 48 days on market in Apr 2024, up by 67.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lapeer Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in Lapeer Township; 74% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.