Is Walled 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, Walled Lake has remained a Seller's Market.
Housing Prices in Walled Lake, MI
How much do homes in Walled Lake, MI cost?
Median Sold Price
$267,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Walled Lake was $267,000 in April 2024, up 6.8% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $166K | $200K | +20.5% |
2 Bedrooms | $195K | $249K | +27.7% |
3 Bedrooms | $285K | $295K | +3.5% |
4 Bedrooms | $438K | $376.2K | -14.1% |
5+ Bedrooms | $230K | $777.5K | +238.0% |
Summary: Walled Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.5%, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes increased by 238%.
Median Sold Price Compared To Nearby Cities
Commerce Charter Township | $337K | $372K | +10.4% |
Walled Lake | $250K | $267K | +6.8% |
Wolverine Lake | $280K | $297.5K | +6.3% |
Novi | $435.3K | $434.1K | -0.3% |
Housing Supply in Walled Lake, MI
How many homes are available in Walled Lake, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 49 | +6.5% |
Summary: The Walled Lake real estate market had 49 homes for sale in April 2024, a 6.5% 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 | 22 | 22 | 0.0% |
3 Bedrooms | 17 | 20 | +17.6% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Walled 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 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 18 | +20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Walled Lake in April 2024, up by 20.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Walled Lake, MI
How long does it take to sell a home in Walled Lake, MI?
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Walled Lake; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.