$45,000
5.65 Acres
Land
#50161284, Nick McNamara, Listing Office: RE/MAX RIVERHAVEN--SS
Is Lake Charter Township, 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, Lake Charter Township was a Seller's Market.
Key Takeaway
Lake Charter Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake Charter Township, MI
How much do homes in Lake Charter Township, MI cost?
Median Sold Price
$175,750
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$1,750(-1.0%)
Key Takeaway
Homes in Lake Charter Township have sold for 1% less than they did a year ago.
Summary: The median home sold price in Lake Charter Township was $175,750 in October 2024, down 1% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.9K | $67.5K | +9.0% |
| 2 Bedrooms | $115K | $173.2K | +50.7% |
| 3 Bedrooms | $220K | $189.8K | -13.7% |
| 4 Bedrooms | $408K | $299.9K | -26.5% |
| 5+ Bedrooms | $455K | $570K | +25.3% |
Summary: Lake Charter Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 50.7%, 3 bedroom homes decreased by 13.7%, 4 bedroom homes decreased by 26.5%, and 5+ bedroom homes increased by 25.3%.
Median Sold Price Compared To Nearby Cities
| Lincoln Charter Township | $315K | $335K | +6.3% |
| Bridgman | $329K | $330K | 0.3% |
| Lake Charter Township | $177.5K | $175.7K | -1.0% |
| Sawyer | $479K | $472.5K | -1.4% |
| Baroda Township | $390.4K | $351.5K | -10.0% |
Housing Supply in Lake Charter Township, MI
How many homes are available in Lake Charter Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 | 73 | -5.2% |
Summary: The Lake Charter Township real estate market had 73 homes for sale in October 2024, a 5.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 21 | 22 | +4.8% |
| 3 Bedrooms | 40 | 35 | -12.5% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Lake Charter Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 4.8%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Charter Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Lake Charter Township in October 2024, down by 31.3% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Lake Charter Township, MI
How long does it take to sell a home in Lake Charter Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 56 Days | 64 Days | +14.6% |
Summary: Homes in Lake Charter Township had an average of 64 days on market in Oct 2024, up by 14.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Charter Township has remained consistent over time.
Summary: During October 2024, 11 homes were sold in Lake Charter Township; 27% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
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