Is Lambertville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lambertville has remained a Seller's Market.
Key Takeaway
Lambertville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lambertville, MI
How much do homes in Lambertville, MI cost?
Median Sold Price
$254,500
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lambertville have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Lambertville was $254,500 in May 2024, down 1.6% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $192.1K | -23.2% |
| 3 Bedrooms | $235K | $237.4K | +1.0% |
| 4 Bedrooms | $322.2K | $305K | -5.4% |
| 5+ Bedrooms | $439.4K | $325K | -26.0% |
Summary: Lambertville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.2%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 26%.
Median Sold Price Compared To Nearby Cities
| Temperance | $256.5K | $260K | +1.4% |
| Bedford Township | $257.7K | $255.1K | -1.0% |
| Lambertville | $258.7K | $254.5K | -1.6% |
| Whiteford Township | $273K | $255K | -6.6% |
| Ottawa Lake | $274.5K | $250.8K | -8.6% |
Housing Supply in Lambertville, MI
How many homes are available in Lambertville, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 33 | +6.5% |
Summary: The Lambertville real estate market had 33 homes for sale in May 2024, a 6.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 15 | 16 | +6.7% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Lambertville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lambertville, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Lambertville in May 2024, up by 28.6% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for Lambertville, MI
How long does it take to sell a home in Lambertville, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 43 Days | +170.1% |
Summary: Homes in Lambertville had an average of 43 days on market in May 2024, up by 170.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lambertville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Lambertville; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
