$2,909 Closing Credit*
$245,000
Deanna Walters, Listing Office: Eagle Realty
Is Belknap Lookout, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Belknap Lookout was a Seller's Market.
Key Takeaway
Belknap Lookout is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Belknap Lookout, MI
How much do homes in Belknap Lookout, MI cost?
Median Sold Price
$275,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+22.2%)
Key Takeaway
Homes in Belknap Lookout have sold for 22.2% more than they did a year ago.
Summary: The median home sold price in Belknap Lookout was $275,000 in October 2024, up 22.2% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $254.5K | +10.7% |
| 2 Bedrooms | $329.5K | $312.5K | -5.2% |
| 3 Bedrooms | $215.8K | $250.7K | +16.2% |
| 4 Bedrooms | $195K | $259K | +32.8% |
| 5+ Bedrooms | $230K | - | N/A |
Summary: Belknap Lookout housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 32.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Belknap Lookout | $225K | $275K | +22.2% |
| Highland Park | $247.9K | $265K | +6.9% |
| Midtown | $271K | $273.5K | +0.9% |
Housing Supply in Belknap Lookout, MI
How many homes are available in Belknap Lookout, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Summary: The Belknap Lookout real estate market had 20 homes for sale in October 2024, a 33.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Belknap Lookout housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 2 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Belknap Lookout, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Belknap Lookout in October 2024, down by 66.7% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Belknap Lookout, MI
How long does it take to sell a home in Belknap Lookout, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 6 Days | 7 Days | +12.9% |
Summary: Homes in Belknap Lookout had an average of 7 days on market in Oct 2024, up by 12.9% compared to last year.
Breakdown of Home Sale Times
2 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 Belknap Lookout are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Belknap Lookout; 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.
