Is Lawton, 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, Lawton has remained a Seller's Market.
Key Takeaway
Lawton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lawton, MI
How much do homes in Lawton, MI cost?
Median Sold Price
$294,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lawton have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Lawton was $294,000 in May 2024, up 8.5% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $51.2K | $83K | +61.9% |
| 2 Bedrooms | $188K | $315K | +67.6% |
| 3 Bedrooms | $271K | $259K | -4.4% |
| 4 Bedrooms | $335K | $299.9K | -10.5% |
| 5+ Bedrooms | $385K | $379.5K | -1.4% |
Summary: Lawton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.9%, 2 bedroom homes increased by 67.6%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes decreased by 1.4%.
Median Sold Price Compared To Nearby Cities
| Lawton | $271K | $294K | +8.5% |
| Antwerp Township | $287K | $295K | +2.8% |
Housing Supply in Lawton, MI
How many homes are available in Lawton, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 15 | -25.0% |
Summary: The Lawton real estate market had 15 homes for sale in May 2024, a 25.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 7 | 3 | -57.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lawton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawton, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Lawton in May 2024, down by 40.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Lawton, MI
How long does it take to sell a home in Lawton, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 26 Days | +168.7% |
Summary: Homes in Lawton had an average of 26 days on market in May 2024, up by 168.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Lawton; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
