Is Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lake Township was a Seller's Market.
Housing Prices in Lake Township, MI
How much do homes in Lake Township, MI cost?
Median Sold Price
$175,750
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Township was $175,750 in April 2024, down 5.8% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122K | $63.9K | -47.6% |
2 Bedrooms | $128.5K | $149.9K | +16.7% |
3 Bedrooms | $187.8K | $220K | +17.1% |
4 Bedrooms | $515K | $305K | -40.8% |
5+ Bedrooms | $615K | - | N/A |
Summary: Lake Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.6%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 40.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Markey Township | $170K | $170K | 0.0% |
Houghton Lake | $184K | $180K | -2.2% |
Lake Township | $186.5K | $175.7K | -5.8% |
Housing Supply in Lake Township, MI
How many homes are available in Lake Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 47 | +46.9% |
Summary: The Lake Township real estate market had 47 homes for sale in April 2024, a 46.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 9 | 13 | +44.4% |
3 Bedrooms | 18 | 24 | +33.3% |
4 Bedrooms | 0 | 3 | +100.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lake Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake Township in April 2024, the same as the previous month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Township, MI
How long does it take to sell a home in Lake Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
160 Days | 111 Days | -30.3% |
Summary: Homes in Lake Township had an average of 111 days on market in Apr 2024, down by 30.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Lake Township; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.