Is Long Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Long Lake Township was a Seller's Market.
Key Takeaway
Long Lake Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Long Lake Township, MI
How much do homes in Long Lake Township, MI cost?
Median Sold Price
$412,500
$321/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Long Lake Township have sold for 11.6% more than they did a month ago.
Summary: The median home sold price in Long Lake Township was $412,500 in April 2024, up 11.6% from last month, and the median price per square foot was $321.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $271.6K | $409.9K | +50.9% |
| 3 Bedrooms | $420K | $315K | -25.0% |
| 4 Bedrooms | $529K | $1.3M | +147.6% |
| 5+ Bedrooms | $206.2K | - | N/A |
Summary: Long Lake Township 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 increased by 50.9%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 147.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Solon Township | $320K | $1.2M | +300.0% |
| Garfield Charter Township | $344.5K | $415K | +20.5% |
| Long Lake Township | $369.6K | $412.5K | +11.6% |
| Interlochen | $470K | $372.5K | -20.7% |
Housing Supply in Long Lake Township, MI
How many homes are available in Long Lake Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 44 | +29.4% |
Summary: The Long Lake Township real estate market had 44 homes for sale in April 2024, a 29.4% 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 | 10 | 9 | -10.0% |
| 3 Bedrooms | 17 | 24 | +41.2% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Long Lake 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 decreased by 10%, 3 bedroom homes increased by 41.2%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Long Lake Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Long Lake Township in April 2024, down by 40.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Long Lake Township, MI
How long does it take to sell a home in Long Lake Township, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 75 Days | +49.2% |
Summary: Homes in Long Lake Township had an average of 75 days on market in Apr 2024, up by 49.2% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Long Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Long Lake Township; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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