$169,000
14.00 Acres
Land
Anthony Pellegrino, Listing Office: P.A. Ommercial LLC
Is Lexington, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lexington has remained a Seller's Market.
Key Takeaway
Lexington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington, MI
How much do homes in Lexington, MI cost?
Median Sold Price
$237,700
$130/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$40,450(+20.5%)
Key Takeaway
Homes in Lexington have sold for 20.5% more than they did a month ago.
Summary: The median home sold price in Lexington was $237,700 in October 2024, up 20.5% from last month, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | - | N/A |
| 2 Bedrooms | $195K | $395K | +102.6% |
| 3 Bedrooms | $256.5K | $159.5K | -37.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $240K | N/A |
Summary: Lexington housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 102.6%, 3 bedroom homes decreased by 37.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Lexington, MI
How many homes are available in Lexington, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 48 | 0.0% |
Summary: The Lexington real estate market had 48 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 22 | 17 | -22.7% |
| 3 Bedrooms | 17 | 21 | +23.5% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Lexington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.7%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Lexington in October 2024, the same as the previous month. Of the 10 sold homes, 90% were sold under asking, 10% were sold at asking, and 0% were sold over asking.
Days on Market for Lexington, MI
How long does it take to sell a home in Lexington, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 67 Days | +14.6% |
Summary: Homes in Lexington had an average of 67 days on market in Oct 2024, up by 14.6% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lexington has remained consistent over time.
Summary: During October 2024, 10 homes were sold in Lexington; 30% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 20% 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.