$10,000 Closing Credit*
$1,350,000
5,693 SqFt
4 Beds
•3 Full Baths, 1 Partial
Cindy Anderson, Listing Office: Lake Homes Realty, LLC
Is Torch Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Torch Lake Township was a Buyer's Market.
Key Takeaway
Torch Lake 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 Torch Lake Township, MI
How much do homes in Torch Lake Township, MI cost?
Median Sold Price
$1,975,000
$642/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$1,578,200(+397.7%)
Key Takeaway
Homes in Torch Lake Township have sold for 397.7% more than they did a month ago.
Summary: The median home sold price in Torch Lake Township was $1,975,000 in November 2024, up 397.7% from last month, and the median price per square foot was $642.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $1.9M | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $396.8K | - | N/A |
Summary: Torch Lake Township housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Torch Lake Township | $396.8K | $1.9M | +397.7% |
| Kewadin | $396.8K | $833.5K | +110.1% |
Housing Supply in Torch Lake Township, MI
How many homes are available in Torch Lake Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Summary: The Torch Lake Township real estate market had 12 homes for sale in November 2024, a 7.7% decrease 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 | 4 | 4 | 0.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Torch Lake 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 remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Torch Lake Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Torch Lake Township in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Torch Lake Township, MI
How long does it take to sell a home in Torch Lake Township, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Torch Lake Township has remained consistent over time.
Summary: During November 2024, 2 homes were sold in Torch Lake Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
