Is Laketown Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Laketown Township was a Seller's Market.
Key Takeaway
Laketown Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Laketown Township, MI
How much do homes in Laketown Township, MI cost?
Median Sold Price
$452,000
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Laketown Township have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Laketown Township was $452,000 in May 2024, up 1.6% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249.9K | - | N/A |
| 2 Bedrooms | $292.5K | $300K | +2.6% |
| 3 Bedrooms | $394.1K | $410K | +4.0% |
| 4 Bedrooms | $569K | $617K | +8.4% |
| 5+ Bedrooms | $700K | $597K | -14.7% |
Summary: Laketown 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 2.6%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 14.7%.
Median Sold Price Compared To Nearby Cities
| Holland | $306.7K | $336.2K | +9.6% |
| Park Township | $389.4K | $425K | +9.1% |
| Laketown Township | $445K | $452K | +1.6% |
Housing Supply in Laketown Township, MI
How many homes are available in Laketown Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 31 | +55.0% |
Summary: The Laketown Township real estate market had 31 homes for sale in May 2024, a 55.0% 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 | 5 | 2 | -60.0% |
| 3 Bedrooms | 7 | 16 | +128.6% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Laketown 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 decreased by 60%, 3 bedroom homes increased by 128.6%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laketown Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Laketown Township in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Laketown Township, MI
How long does it take to sell a home in Laketown Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 3 Days | -78.0% |
Summary: Homes in Laketown Township had an average of 3 days on market in May 2024, down by 78% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laketown Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Laketown Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
