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.
Key Takeaway
Lee Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lee Township, MI
How much do homes in Lee Township, MI cost?
Median Sold Price
$193,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lee Township have sold for 17% more than they did a year ago.
Summary: The median home sold price in Lee Township was $193,000 in May 2024, up 17% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $410K | N/A |
| 2 Bedrooms | $140.5K | $165K | +17.4% |
| 3 Bedrooms | $169.2K | $169.5K | 0.1% |
| 4 Bedrooms | $179.5K | $355K | +97.8% |
| 5+ Bedrooms | $336K | $370K | +10.1% |
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 17.4%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 97.8%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
| Grand Junction | $167.5K | $265K | +58.2% |
| Pullman | $158.5K | $197.5K | +24.6% |
| Lee Township | $165K | $193K | +17.0% |
| Clyde Township | $289.9K | $257K | -11.3% |
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 |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Lee Township real estate market had 9 homes for sale in May 2024, a 10.0% decrease 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 | 2 | 5 | +150.0% |
| 3 Bedrooms | 6 | 1 | -83.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
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 increased by 150%, 3 bedroom homes decreased by 83.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lee 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 Lee Township in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% 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 |
|---|---|---|
| 29 Days | 5 Days | -80.5% |
Summary: Homes in Lee Township had an average of 5 days on market in May 2024, down by 80.5% 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 Lee Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Lee 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.
