$2,328 Closing Credit*
$196,000
1,520 SqFt
3 Beds
•2 Full Baths
#50161266, Virginia McNabb, Listing Office: Town & Country Realty-Lexington
Is Lexington 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, Lexington Township was a Buyer's Market.
Key Takeaway
Lexington Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington Township, MI
How much do homes in Lexington Township, MI cost?
Median Sold Price
$200,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$20,000(-9.1%)
Key Takeaway
Homes in Lexington Township have sold for 9.1% less than they did a year ago.
Summary: The median home sold price in Lexington Township was $200,000 in October 2024, down 9.1% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $132K | -24.6% |
| 2 Bedrooms | $137K | $184.5K | +34.7% |
| 3 Bedrooms | $213K | $209.9K | -1.5% |
| 4 Bedrooms | $307.5K | $405K | +31.7% |
| 5+ Bedrooms | $482.5K | $242.5K | -49.7% |
Summary: Lexington Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.6%, 2 bedroom homes increased by 34.7%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes decreased by 49.7%.
Median Sold Price Compared To Nearby Cities
| Croswell | $145K | $150K | +3.4% |
| Washington Township | $430K | $435K | +1.2% |
| Lexington Township | $220K | $200K | -9.1% |
Housing Supply in Lexington Township, MI
How many homes are available in Lexington Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 52 | 0.0% |
Summary: The Lexington Township real estate market had 52 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 | 23 | 18 | -21.7% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Lexington Township 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 21.7%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Lexington Township in October 2024, up by 20.0% month-over-month. Of the 12 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Lexington Township, MI
How long does it take to sell a home in Lexington Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 2 Days | 81 Days | +3962.5% |
Summary: Homes in Lexington Township had an average of 81 days on market in Oct 2024, up by 3962.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lexington Township has remained consistent over time.
Summary: During October 2024, 12 homes were sold in Lexington Township; 25% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 33% 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.