$2,850 Closing Credit*
$240,000
1,761 SqFt
2 Beds
•2 Full Baths
Lisa Cutting, Listing Office: KW Showcase Realty
Is Walled Lake, 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, Walled Lake has remained a Seller's Market.
Key Takeaway
Walled Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Walled Lake, MI
How much do homes in Walled Lake, MI cost?
Median Sold Price
$285,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+9.6%)
Key Takeaway
Homes in Walled Lake have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Walled Lake was $285,000 in October 2024, up 9.6% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $169.2K | $195K | +15.2% |
| 2 Bedrooms | $239.7K | $255K | +6.4% |
| 3 Bedrooms | $313K | $325K | +3.8% |
| 4 Bedrooms | $466.5K | $345K | -26.0% |
| 5+ Bedrooms | $780K | $837.5K | +7.4% |
Summary: Walled Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 26%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Cities
| Novi | $427.5K | $468.8K | +9.7% |
| Walled Lake | $260K | $285K | +9.6% |
| Commerce Charter Township | $355.5K | $370.8K | +4.3% |
| 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 51 | 51 | 0.0% |
Summary: The Walled Lake real estate market had 51 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 26 | 28 | +7.7% |
| 3 Bedrooms | 19 | 18 | -5.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Walled Lake 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 increased by 7.7%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 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. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Walled Lake in October 2024, down by 21.4% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 19 Days | -9.1% |
Summary: Homes in Walled Lake had an average of 19 days on market in Oct 2024, down by 9.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Walled Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Walled Lake; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% 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.