$7,124 Closing Credit*
$599,900
3,708 SqFt
3 Beds
•3 Full Baths, 1 Partial
Christina Gennari, Listing Office: KW Domain
Is Lake Orion, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Lake Orion has remained a Seller's Market.
Key Takeaway
Lake Orion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Orion, MI
How much do homes in Lake Orion, MI cost?
Median Sold Price
$376,300
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,300(+1.7%)
Key Takeaway
Homes in Lake Orion have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Lake Orion was $376,300 in November 2024, up 1.7% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $175K | N/A |
| 2 Bedrooms | $198K | $210K | +6.1% |
| 3 Bedrooms | $338K | $348.5K | +3.1% |
| 4 Bedrooms | $466K | $497.4K | +6.7% |
| 5+ Bedrooms | $587.5K | $567.5K | -3.4% |
Summary: Lake Orion housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Orion Charter Township | $372.4K | $383K | +2.8% |
| Lake Orion | $370K | $376.3K | +1.7% |
Housing Supply in Lake Orion, MI
How many homes are available in Lake Orion, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 143 | 119 | -16.8% |
Summary: The Lake Orion real estate market had 119 homes for sale in November 2024, a 16.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 38 | 32 | -15.8% |
| 3 Bedrooms | 64 | 48 | -25.0% |
| 4 Bedrooms | 35 | 35 | 0.0% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Lake Orion housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.8%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 | 31 | -29.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Orion, you may be able to get a good deal. 54.8% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Lake Orion in November 2024, down by 29.5% month-over-month. Of the 31 sold homes, 55% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Lake Orion, MI
How long does it take to sell a home in Lake Orion, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 25 Days | -44.1% |
Summary: Homes in Lake Orion had an average of 25 days on market in Nov 2024, down by 44.1% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Orion are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 31 homes were sold in Lake Orion; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 6% 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. 
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.