$2,601 Closing Credit*
$219,000
950 SqFt
2 Beds
•1 Full Bath
#50161490, Shari Marhofer, Listing Office: Century 21 Signature - Clare
Is Lake 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 Township was a Seller's Market.
Key Takeaway
Lake 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 Township, MI
How much do homes in Lake Township, MI cost?
Median Sold Price
$198,600
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,100(+11.9%)
Key Takeaway
Homes in Lake Township have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Lake Township was $198,600 in October 2024, up 11.9% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.9K | $67.5K | +9.0% |
| 2 Bedrooms | $112K | $170K | +51.8% |
| 3 Bedrooms | $220K | $225K | +2.3% |
| 4 Bedrooms | $595K | $272.4K | -54.2% |
| 5+ Bedrooms | $1.2M | $1.0M | -20.0% |
Summary: Lake 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 51.8%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 54.2%, and 5+ bedroom homes decreased by 20%.
Housing Supply in Lake Township, MI
How many homes are available in Lake Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 71 | 62 | -12.7% |
Summary: The Lake Township real estate market had 62 homes for sale in October 2024, a 12.7% 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 | 22 | 22 | 0.0% |
| 3 Bedrooms | 34 | 24 | -29.4% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Lake 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 remained the same, 3 bedroom homes decreased by 29.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 10 | -47.4% |
Asking Price vs. Sold Price
5 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 Township, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Lake Township in October 2024, down by 47.4% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Lake Township, MI
How long does it take to sell a home in Lake Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 55 Days | 66 Days | +19.7% |
Summary: Homes in Lake Township had an average of 66 days on market in Oct 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Lake Township; 30% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% 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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© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. 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. 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 Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.