Is Ottawa Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ottawa Lake has remained a Seller's Market.
Housing Prices in Ottawa Lake, MI
How much do homes in Ottawa Lake, MI cost?
Median Sold Price
$250,872
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ottawa Lake was $250,872 in May 2024, down 8.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $106K | N/A |
2 Bedrooms | $161K | $238K | +47.8% |
3 Bedrooms | $255K | $250.8K | -1.6% |
4 Bedrooms | $315.5K | $292.5K | -7.3% |
5+ Bedrooms | $367.5K | - | N/A |
Summary: Ottawa Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 47.8%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Sylvania | $280.3K | $291.1K | +3.8% |
Lambertville | $258.7K | $254.5K | -1.6% |
Whiteford Township | $273K | $255K | -6.6% |
Ottawa Lake | $274.5K | $250.8K | -8.6% |
Housing Supply in Ottawa Lake, MI
How many homes are available in Ottawa Lake, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 9 | -10.0% |
Summary: The Ottawa Lake real estate market had 9 homes for sale in May 2024, a 10.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 3 | 4 | +33.3% |
4 Bedrooms | 4 | 2 | -50.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Ottawa Lake housing inventory by bedroom type for May 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 33.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Ottawa Lake in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Ottawa Lake, MI
How long does it take to sell a home in Ottawa Lake, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
5 Days | 43 Days | +760.0% |
Summary: Homes in Ottawa Lake had an average of 43 days on market in May 2024, up by 760% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Ottawa Lake; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.