$3,135 Closing Credit*
$264,000
1,340 SqFt
3 Beds
•2 Full Baths
Joseph McNally, Listing Office: RE/MAX TOGETHER
Is Lake County, 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 County was a Seller's Market.
Key Takeaway
Lake County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake County, MI
How much do homes in Lake County, MI cost?
Median Sold Price
$160,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,000(+15.9%)
Key Takeaway
Homes in Lake County have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Lake County was $160,000 in October 2024, up 15.9% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $62.7K | $87.5K | +39.6% |
| 2 Bedrooms | $103K | $148.5K | +44.2% |
| 3 Bedrooms | $151K | $189.9K | +25.8% |
| 4 Bedrooms | $245K | $299.7K | +22.3% |
| 5+ Bedrooms | $588K | $217.4K | -63.0% |
Summary: Lake County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.6%, 2 bedroom homes increased by 44.2%, 3 bedroom homes increased by 25.8%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes decreased by 63%.
Median Sold Price Compared To Nearby Counties
| Lake County | $138K | $160K | +15.9% |
| Osceola County | $165K | $180K | +9.1% |
| Mason County | $250K | $259K | +3.6% |
| Newaygo County | $219K | $224.9K | +2.7% |
| Manistee County | $224.5K | $225K | 0.2% |
Housing Supply in Lake County, MI
How many homes are available in Lake County, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 138 | 146 | +5.8% |
Summary: The Lake County real estate market had 146 homes for sale in October 2024, a 5.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 15 | -11.8% |
| 2 Bedrooms | 54 | 58 | +7.4% |
| 3 Bedrooms | 49 | 58 | +18.4% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Lake County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.8%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 18.4%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Lake County in October 2024, down by 10.0% month-over-month. Of the 18 sold homes, 50% were sold under asking, 22% were sold at asking, and 28% were sold over asking.
Days on Market for Lake County, MI
How long does it take to sell a home in Lake County, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 49 Days | -15.2% |
Summary: Homes in Lake County had an average of 49 days on market in Oct 2024, down by 15.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in Lake County; 50% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved