$1,500,000
77.99 Acres
Land
Matthew Dejanovich, Listing Office: Real Estate One
Is Lima Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Lima Township was a Neutral Market.
Key Takeaway
Lima Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lima Township, MI
How much do homes in Lima Township, MI cost?
Median Sold Price
$449,950
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$62,500(+16.1%)
Key Takeaway
Homes in Lima Township have sold for 16.1% more than they did a year ago.
Summary: The median home sold price in Lima Township was $449,950 in September 2024, up 16.1% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $427.5K | - | N/A |
| 3 Bedrooms | $365K | $406K | +11.2% |
| 4 Bedrooms | $395K | $439.9K | +11.4% |
| 5+ Bedrooms | $468.1K | $687.7K | +46.9% |
Summary: Lima Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 46.9%.
Median Sold Price Compared To Nearby Cities
| Lima Township | $387.4K | $449.9K | +16.1% |
| Chelsea | $370K | $415K | +12.2% |
| Webster Township | $516.5K | $545K | +5.5% |
| Dexter Township | $475.9K | $495K | +4.0% |
Housing Supply in Lima Township, MI
How many homes are available in Lima Township, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Summary: The Lima Township real estate market had 10 homes for sale in September 2024, a 16.7% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Lima Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lima Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Lima Township in September 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Lima Township, MI
How long does it take to sell a home in Lima Township, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 42 Days | 46 Days | +11.0% |
Summary: Homes in Lima Township had an average of 46 days on market in Sep 2024, up by 11% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lima Township has remained consistent over time.
Summary: During September 2024, 5 homes were sold in Lima Township; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.