Is Twin Lake, 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, Twin Lake has remained a Seller's Market.
Housing Prices in Twin Lake, MI
How much do homes in Twin Lake, MI cost?
Median Sold Price
$270,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Twin Lake was $270,000 in May 2024, down 0.2% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $291.5K | $42.5K | -85.4% |
2 Bedrooms | $192.1K | $227K | +18.2% |
3 Bedrooms | $244.5K | $266K | +8.8% |
4 Bedrooms | $287.4K | $308.3K | +7.3% |
5+ Bedrooms | $335K | $336K | 0.3% |
Summary: Twin Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 85.4%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
Dalton Township | $240K | $263.4K | +9.8% |
Twin Lake | $270.5K | $270K | -0.2% |
Cedar Creek Township | $225K | $223K | -0.9% |
Housing Supply in Twin Lake, MI
How many homes are available in Twin Lake, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 43 | +10.3% |
Summary: The Twin Lake real estate market had 43 homes for sale in May 2024, a 10.3% 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 | 4 | 5 | +25.0% |
3 Bedrooms | 23 | 31 | +34.8% |
4 Bedrooms | 9 | 4 | -55.6% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Twin Lake 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 increased by 25%, 3 bedroom homes increased by 34.8%, 4 bedroom homes decreased by 55.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Twin Lake in May 2024, down by 38.5% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 41 Days | +218.3% |
Summary: Homes in Twin Lake had an average of 41 days on market in May 2024, up by 218.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Twin Lake; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.