$2,838 Closing Credit*
$239,000
600 SqFt
1 Bed
•1 Full Bath
Angela Farrington, Listing Office: KW Northern Michigan Team Partners
Is Lyon Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lyon Township has remained a Neutral Market.
Key Takeaway
Lyon Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lyon Township, MI
How much do homes in Lyon Township, MI cost?
Median Sold Price
$198,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,000(+10.0%)
Key Takeaway
Homes in Lyon Township have sold for 10% more than they did a year ago.
Summary: The median home sold price in Lyon Township was $198,000 in October 2024, up 10% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $105K | -4.5% |
| 2 Bedrooms | $159.9K | $180K | +12.5% |
| 3 Bedrooms | $240K | $260K | +8.3% |
| 4 Bedrooms | $135K | $724K | +436.3% |
| 5+ Bedrooms | $1.2M | $1.6M | +29.3% |
Summary: Lyon Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 436.3%, and 5+ bedroom homes increased by 29.3%.
Median Sold Price Compared To Nearby Cities
| Beaver Creek Township | $165K | $210K | +27.3% |
| Lyon Township | $180K | $198K | +10.0% |
| Gerrish Township | $230.5K | $245K | +6.3% |
Housing Supply in Lyon Township, MI
How many homes are available in Lyon Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 25 | -13.8% |
Summary: The Lyon Township real estate market had 25 homes for sale in October 2024, a 13.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 14 | 11 | -21.4% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Lyon Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
3 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 Lyon Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lyon Township in October 2024, down by 50.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Lyon Township, MI
How long does it take to sell a home in Lyon Township, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Lyon Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 4 homes were sold in Lyon Township; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
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.