$3,194 Closing Credit*
$269,000
1,700 SqFt
3 Beds
•2 Full Baths
#50160186, 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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