$2,197 Closing Credit*
$185,000
942 SqFt
2 Beds
•1 Full Bath, 1 Partial
Karen M Camilleri, Listing Office: Century 21 Professionals Livonia
Is Walled Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Walled Lake has remained a Neutral Market.
Key Takeaway
Walled Lake 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 Walled Lake, MI
How much do homes in Walled Lake, MI cost?
Median Sold Price
$290,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,000(+9.4%)
Key Takeaway
Homes in Walled Lake have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Walled Lake was $290,000 in November 2024, up 9.4% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $169.2K | $197.5K | +16.7% |
| 2 Bedrooms | $240K | $258.7K | +7.8% |
| 3 Bedrooms | $332.5K | $377.5K | +13.5% |
| 4 Bedrooms | $438K | $350K | -20.1% |
| 5+ Bedrooms | $780K | $900K | +15.4% |
Summary: Walled Lake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 13.5%, 4 bedroom homes decreased by 20.1%, and 5+ bedroom homes increased by 15.4%.
Median Sold Price Compared To Nearby Cities
| Novi | $426K | $475K | +11.5% |
| Walled Lake | $265K | $290K | +9.4% |
| Commerce Charter Township | $363.7K | $379.6K | +4.4% |
| Wolverine Lake | $290K | $295K | +1.7% |
Housing Supply in Walled Lake, MI
How many homes are available in Walled Lake, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 48 | -9.4% |
Summary: The Walled Lake real estate market had 48 homes for sale in November 2024, a 9.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 29 | 29 | 0.0% |
| 3 Bedrooms | 19 | 14 | -26.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Walled Lake 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 decreased by 26.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Walled Lake, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Walled Lake in November 2024, down by 46.7% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for Walled Lake, MI
How long does it take to sell a home in Walled Lake, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 59 Days | +41.1% |
Summary: Homes in Walled Lake had an average of 59 days on market in Nov 2024, up by 41.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Walled Lake has remained consistent over time.
Summary: During November 2024, 8 homes were sold in Walled Lake; 13% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.