Is Twin Lake, 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, Twin Lake has remained a Seller's Market.
Key Takeaway
Twin Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Twin Lake, MI
How much do homes in Twin Lake, MI cost?
Median Sold Price
$278,900
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Twin Lake have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Twin Lake was $278,900 in April 2024, up 7.5% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $162.7K | -45.8% |
| 2 Bedrooms | $183.9K | $221.4K | +20.4% |
| 3 Bedrooms | $244.5K | $277.9K | +13.7% |
| 4 Bedrooms | $289.9K | $315K | +8.6% |
| 5+ Bedrooms | $345K | $336K | -2.6% |
Summary: Twin Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.8%, 2 bedroom homes increased by 20.4%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 2.6%.
Median Sold Price Compared To Nearby Cities
| Lakewood Club | $197.5K | $221.2K | +12.0% |
| Dalton Township | $240K | $266K | +10.8% |
| Twin Lake | $259.5K | $278.9K | +7.5% |
| Cedar Creek Township | $225K | $216.9K | -3.6% |
Housing Supply in Twin Lake, MI
How many homes are available in Twin Lake, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 37 | 37 | 0.0% |
Summary: The Twin Lake real estate market had 37 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 19 | 22 | +15.8% |
| 4 Bedrooms | 11 | 7 | -36.4% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Twin Lake 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 15.8%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Twin Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Twin Lake in April 2024, up by 33.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Twin Lake, MI
How long does it take to sell a home in Twin Lake, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 47 Days | +112.6% |
Summary: Homes in Twin Lake had an average of 47 days on market in Apr 2024, up by 112.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Twin Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Twin Lake; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.