Is Lenawee County, 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, Lenawee County has remained a Seller's Market.
Key Takeaway
Lenawee County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lenawee County, MI
How much do homes in Lenawee County, MI cost?
Median Sold Price
$214,346
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lenawee County have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Lenawee County was $214,346 in May 2024, up 2.6% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $78.5K | $78.7K | 0.3% |
| 2 Bedrooms | $149.9K | $149.9K | 0.0% |
| 3 Bedrooms | $208K | $214K | +2.8% |
| 4 Bedrooms | $250.6K | $258.4K | +3.1% |
| 5+ Bedrooms | $269K | $319.4K | +18.7% |
Summary: Lenawee County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 18.7%.
Median Sold Price Compared To Nearby Counties
| Jackson County | $179.9K | $202.4K | +12.5% |
| Washtenaw County | $368.9K | $393.8K | +6.8% |
| Monroe County | $229.9K | $240K | +4.4% |
| Lenawee County | $208.9K | $214.3K | +2.6% |
Housing Supply in Lenawee County, MI
How many homes are available in Lenawee County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 364 | 391 | +7.4% |
Summary: The Lenawee County real estate market had 391 homes for sale in May 2024, a 7.4% 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 | 51 | 60 | +17.6% |
| 3 Bedrooms | 184 | 200 | +8.7% |
| 4 Bedrooms | 101 | 102 | +1.0% |
| 5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The Lenawee County 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 increased by 17.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 114 | 101 | -11.4% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lenawee County, you may be able to get a good deal. 56% of homes here sold below asking price last month.
Summary: A total of 101 homes were sold or pending in Lenawee County in May 2024, down by 11.4% month-over-month. Of the 100 sold homes, 56% were sold under asking, 24% were sold at asking, and 20% were sold over asking.
Days on Market for Lenawee County, MI
How long does it take to sell a home in Lenawee County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 52 Days | +1.0% |
Summary: Homes in Lenawee County had an average of 52 days on market in May 2024, up by 1% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lenawee County has remained consistent over time.
Summary: During May 2024, 101 homes were sold in Lenawee County; 40% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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