Is Lyon Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lyon Charter Township is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Lyon Charter Township was a Neutral Market.

Key Takeaway

Lyon Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lyon Charter Township, MI

How much do homes in Lyon Charter Township, MI cost?

Median Sold Price

$600,000

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$50,000(+9.1%)

Key Takeaway

Homes in Lyon Charter Township have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Lyon Charter Township was $600,000 in November 2024, up 9.1% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $39.1K$63.4K
+62.3%
2 $221K$391K
+76.9%
3 $495.3K$460K
-7.1%
4 $610K$616.8K
+1.1%
5+ $645.7K$756.4K
+17.1%

Summary: Lyon Charter Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 62.3%, 2 bedroom homes increased by 76.9%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 17.1%.

Median Sold Price Compared To Nearby Cities

Lyon Charter Township
+9.1%
South Lyon
+5.1%
Wixom
+1.7%
Salem Township
0.2%
New Hudson
-0.4%

Housing Supply in Lyon Charter Township, MI

How many homes are available in Lyon Charter Township, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10497-6.7%

Summary: The Lyon Charter Township real estate market had 97 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 04
+100.0%
2 56
+20.0%
3 2621
-19.2%
4 6257
-8.1%
5+ 119
-18.2%

Summary: The Lyon Charter Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3118-41.9%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lyon Charter Township, you could pay more than the asking price. 72.2% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Lyon Charter Township in November 2024, down by 41.9% month-over-month. Of the 18 sold homes, 17% were sold under asking, 11% were sold at asking, and 72% were sold over asking.

Days on Market for Lyon Charter Township, MI

How long does it take to sell a home in Lyon Charter Township, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
56 Days12 Days-78.0%

Summary: Homes in Lyon Charter Township had an average of 12 days on market in Nov 2024, down by 78% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lyon Charter Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 18 homes were sold in Lyon Charter Township; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

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Newest Listings in Lyon Charter Township, MI

Nearby Markets to Lyon Charter Township, MI

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MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., Michigan Regional Information Center LLC, and MiRealSource Inc. DL for the period 12/01/2022 - 12/01/2024

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

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IDX provided courtesy of Realcomp II Ltd. Copyright © 2024 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 10:21:07 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 10:21:03 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 10:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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