$10,000 Closing Credit*
$1,395,000
3,094 SqFt
4 Beds
•3 Full Baths
Kari King, Listing Office: Century 21 Northland-Frankfort
Is Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lake Township was a Neutral Market.
Key Takeaway
Lake Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Township, MI
How much do homes in Lake Township, MI cost?
Median Sold Price
$175,750
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$6,250(-3.4%)
Key Takeaway
Homes in Lake Township have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in Lake Township was $175,750 in November 2024, down 3.4% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59.9K | $66K | +10.2% |
| 2 Bedrooms | $100K | $150K | +50.0% |
| 3 Bedrooms | $220K | $207K | -5.9% |
| 4 Bedrooms | $617.5K | $272.4K | -55.9% |
| 5+ Bedrooms | $1.3M | $818K | -39.0% |
Summary: Lake Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 55.9%, and 5+ bedroom homes decreased by 39%.
Median Sold Price Compared To Nearby Cities
| Benzonia Township | $339.9K | $385K | +13.3% |
| Lake Township | $182K | $175.7K | -3.4% |
Housing Supply in Lake Township, MI
How many homes are available in Lake Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 57 | -8.1% |
Summary: The Lake Township real estate market had 57 homes for sale in November 2024, a 8.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 23 | 22 | -4.3% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Lake Township 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 4.3%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 18 | +100.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake 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 18 homes were sold or pending in Lake Township in November 2024, up by 100.0% month-over-month. Of the 18 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 198 Days | 70 Days | -64.3% |
Summary: Homes in Lake Township had an average of 70 days on market in Nov 2024, down by 64.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Township has remained consistent over time.
Summary: During November 2024, 18 homes were sold in Lake Township; 33% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 28% 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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