Is Lawrence 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, Lawrence Township has remained a Seller's Market.
Key Takeaway
Lawrence Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lawrence Township, MI
How much do homes in Lawrence Township, MI cost?
Median Sold Price
$200,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lawrence Township have sold for 11.1% less than they did a year ago.
Summary: The median home sold price in Lawrence Township was $200,000 in April 2024, down 11.1% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $183.5K | N/A |
| 2 Bedrooms | $190K | $142.4K | -25.0% |
| 3 Bedrooms | $211.2K | $227.2K | +7.6% |
| 4 Bedrooms | $487K | $372K | -23.6% |
| 5+ Bedrooms | $450K | $560K | +24.4% |
Summary: Lawrence Township 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 decreased by 25%, 3 bedroom homes increased by 7.6%, 4 bedroom homes decreased by 23.6%, and 5+ bedroom homes increased by 24.4%.
Median Sold Price Compared To Nearby Cities
| Paw Paw Township | $220K | $233.6K | +6.2% |
| Lawrence | $193.2K | $200K | +3.5% |
| Lawrence Township | $225K | $200K | -11.1% |
Housing Supply in Lawrence Township, MI
How many homes are available in Lawrence Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Summary: The Lawrence Township real estate market had 15 homes for sale in April 2024, a 25.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Lawrence 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
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 Lawrence Township, 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 Lawrence Township in April 2024, up by 200.0% month-over-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 Lawrence Township, MI
How long does it take to sell a home in Lawrence Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 83 Days | 57 Days | -31.3% |
Summary: Homes in Lawrence Township had an average of 57 days on market in Apr 2024, down by 31.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Lawrence Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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.