Is Lee Township, 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, Lee Township has remained a Seller's Market.
Housing Prices in Lee Township, MI
How much do homes in Lee Township, MI cost?
Median Sold Price
$189,250
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lee Township was $189,250 in May 2024, up 8.8% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $101K | $132.4K | +31.1% |
3 Bedrooms | $185.5K | $213.7K | +15.2% |
4 Bedrooms | $174K | $341K | +96.0% |
5+ Bedrooms | $198K | - | N/A |
Summary: Lee Township 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 increased by 31.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 96%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lee Township | $174K | $189.2K | +8.8% |
Jerome Township | $230K | $226.5K | -1.5% |
Homer Township | $170K | $155K | -8.8% |
Housing Supply in Lee Township, MI
How many homes are available in Lee Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Summary: The Lee Township real estate market had 4 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 3 | 4 | +33.3% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lee Township housing inventory by bedroom type for May 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Lee Township in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lee Township, MI
How long does it take to sell a home in Lee Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
2 Days | 17 Days | +775.0% |
Summary: Homes in Lee Township had an average of 17 days on market in May 2024, up by 775% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Lee Township; 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.