Is Wolverine 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, Wolverine Lake has remained a Seller's Market.
Housing Prices in Wolverine Lake, MI
How much do homes in Wolverine Lake, MI cost?
Median Sold Price
$295,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wolverine Lake was $295,000 in May 2024, up 5.4% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $207.5K | $245K | +18.1% |
3 Bedrooms | $278K | $292.4K | +5.2% |
4 Bedrooms | $450K | $420K | -6.7% |
5+ Bedrooms | - | $1.5M | N/A |
Summary: Wolverine 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 18.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Walled Lake | $252K | $270K | +7.1% |
Commerce Charter Township | $350K | $370K | +5.7% |
Wolverine Lake | $280K | $295K | +5.4% |
Housing Supply in Wolverine Lake, MI
How many homes are available in Wolverine Lake, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 18 | -18.2% |
Summary: The Wolverine Lake real estate market had 18 homes for sale in May 2024, a 18.2% 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 | 4 | 4 | 0.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 4 | 1 | -75.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Wolverine 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 remained the same, 4 bedroom homes decreased by 75%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Wolverine Lake in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for Wolverine Lake, MI
How long does it take to sell a home in Wolverine Lake, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
9 Days | 12 Days | +29.7% |
Summary: Homes in Wolverine Lake had an average of 12 days on market in May 2024, up by 29.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Wolverine Lake; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.