Is Lakeview, 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, Lakeview has remained a Seller's Market.
Key Takeaway
Lakeview is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakeview, MI
How much do homes in Lakeview, MI cost?
Median Sold Price
$195,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lakeview have sold for 3.9% less than they did a year ago.
Summary: The median home sold price in Lakeview was $195,000 in May 2024, down 3.9% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $100.7K | -40.7% |
| 2 Bedrooms | $190K | $150K | -21.1% |
| 3 Bedrooms | $201K | $201K | 0.0% |
| 4 Bedrooms | $302K | $315K | +4.3% |
| 5+ Bedrooms | $225K | $185K | -17.8% |
Summary: Lakeview housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.7%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 17.8%.
Median Sold Price Compared To Nearby Cities
| Lakeview | $203K | $195K | -3.9% |
| Cato Township | $199.9K | $180K | -10.0% |
Housing Supply in Lakeview, MI
How many homes are available in Lakeview, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Summary: The Lakeview real estate market had 14 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 4 | 7 | +75.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lakeview 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 50%, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeview, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lakeview in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lakeview, MI
How long does it take to sell a home in Lakeview, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 68 Days | +403.7% |
Summary: Homes in Lakeview had an average of 68 days on market in May 2024, up by 403.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakeview are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Lakeview; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
