$249,900
2.51 Acres
Land
Ryan C Rarick, Listing Office: Kalamazoo Realty
Is Lawrence, 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, Lawrence was a Buyer's Market.
Key Takeaway
Lawrence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lawrence, MI
How much do homes in Lawrence, MI cost?
Median Sold Price
$245,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$60,000(+32.4%)
Key Takeaway
Homes in Lawrence have sold for 32.4% more than they did a year ago.
Summary: The median home sold price in Lawrence was $245,000 in November 2024, up 32.4% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $167K | N/A |
| 2 Bedrooms | $164.4K | $182.5K | +11.0% |
| 3 Bedrooms | $184.9K | $257.5K | +39.3% |
| 4 Bedrooms | $283K | $549.9K | +94.3% |
| 5+ Bedrooms | $450K | $856.5K | +90.3% |
Summary: Lawrence 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 11%, 3 bedroom homes increased by 39.3%, 4 bedroom homes increased by 94.3%, and 5+ bedroom homes increased by 90.3%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $185K | $245K | +32.4% |
| Lawrence Township | $185K | $245K | +32.4% |
Housing Supply in Lawrence, MI
How many homes are available in Lawrence, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Summary: The Lawrence real estate market had 19 homes for sale in November 2024, a 5.6% increase 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lawrence 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 50%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 7 | +600.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrence, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Lawrence in November 2024, up by 600.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Lawrence, MI
How long does it take to sell a home in Lawrence, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 1 Day | 184 Days | +18300.0% |
Summary: Homes in Lawrence had an average of 184 days on market in Nov 2024, up by 18300% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Lawrence; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
