$2,374 Closing Credit*
$199,900
1,200 SqFt
3 Beds
•2 Full Baths
Gary R Patrosso, Listing Office: Midge & Co-Luxury Lakefront Homes
Is Houghton Lake, 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, Houghton Lake was a Seller's Market.
Key Takeaway
Houghton Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Houghton Lake, MI
How much do homes in Houghton Lake, MI cost?
Median Sold Price
$200,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,500(+6.1%)
Key Takeaway
Homes in Houghton Lake have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Houghton Lake was $200,000 in October 2024, up 6.1% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $122.5K | $75.3K | -38.5% |
| 2 Bedrooms | $139.9K | $120K | -14.2% |
| 3 Bedrooms | $207K | $230K | +11.1% |
| 4 Bedrooms | $295K | $452.9K | +53.6% |
| 5+ Bedrooms | $235K | $622.4K | +164.9% |
Summary: Houghton Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.5%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 53.6%, and 5+ bedroom homes increased by 164.9%.
Median Sold Price Compared To Nearby Cities
| Prudenville | $169K | $203.7K | +20.5% |
| Denton Township | $185K | $210K | +13.5% |
| Houghton Lake | $188.5K | $200K | +6.1% |
| Roscommon Township | $177.1K | $184.8K | +4.3% |
Housing Supply in Houghton Lake, MI
How many homes are available in Houghton Lake, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 115 | +8.5% |
Summary: The Houghton Lake real estate market had 115 homes for sale in October 2024, a 8.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 30 | 32 | +6.7% |
| 3 Bedrooms | 46 | 52 | +13.0% |
| 4 Bedrooms | 21 | 21 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Houghton Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 13%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Houghton Lake, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Houghton Lake in October 2024, up by 60.0% month-over-month. Of the 16 sold homes, 69% were sold under asking, 6% were sold at asking, and 25% were sold over asking.
Days on Market for Houghton Lake, MI
How long does it take to sell a home in Houghton Lake, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 57 Days | 108 Days | +87.3% |
Summary: Homes in Houghton Lake had an average of 108 days on market in Oct 2024, up by 87.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Houghton Lake has remained consistent over time.
Summary: During October 2024, 16 homes were sold in Houghton Lake; 0% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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