$350,000
34.49 Acres
Land
Michelle Elie, Listing Office: The Charles Reinhart Company
Is Lima 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, Lima Township was a Seller's Market.
Key Takeaway
Lima Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lima Township, MI
How much do homes in Lima Township, MI cost?
Median Sold Price
$450,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+3.4%)
Key Takeaway
Homes in Lima Township have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Lima Township was $450,000 in November 2024, up 3.4% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $350K | - | N/A |
| 3 Bedrooms | $380K | $407K | +7.1% |
| 4 Bedrooms | $467.3K | $450K | -3.7% |
| 5+ Bedrooms | $501.3K | $700K | +39.6% |
Summary: Lima Township 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 did not change, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 39.6%.
Median Sold Price Compared To Nearby Cities
| Sylvan Township | $399.9K | $450K | +12.5% |
| Chelsea | $381.5K | $424.1K | +11.2% |
| Webster Township | $530K | $580K | +9.4% |
| Dexter Township | $481.7K | $504.2K | +4.7% |
| Lima Township | $435K | $450K | +3.4% |
Housing Supply in Lima Township, MI
How many homes are available in Lima Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Summary: The Lima Township real estate market had 10 homes for sale in November 2024, a 66.7% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lima 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 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. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Lima Township in November 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 84 Days | 89 Days | +5.3% |
Summary: Homes in Lima Township had an average of 89 days on market in Nov 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was 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 November 2024, 1 homes were sold in Lima Township; 0% of homes were sold within 30 days, 100% 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.