$5,878 Closing Credit*
$495,000
1,580 SqFt
3 Beds
•3 Full Baths
Lorrie Bailey, Listing Office: KW Showcase Realty
Is Wolverine 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, Wolverine Lake has remained a Seller's Market.
Key Takeaway
Wolverine Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wolverine Lake, MI
How much do homes in Wolverine Lake, MI cost?
Median Sold Price
$295,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+1.7%)
Key Takeaway
Homes in Wolverine Lake have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Wolverine Lake was $295,000 in October 2024, up 1.7% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $241.5K | +9.8% |
| 3 Bedrooms | $285K | $295K | +3.5% |
| 4 Bedrooms | $470K | $485K | +3.2% |
| 5+ Bedrooms | - | $1.5M | N/A |
Summary: Wolverine Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Walled Lake | $260K | $285K | +9.6% |
| Commerce Charter Township | $355.5K | $370.8K | +4.3% |
| Wolverine Lake | $290K | $295K | +1.7% |
Housing Supply in Wolverine Lake, MI
How many homes are available in Wolverine Lake, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Summary: The Wolverine Lake real estate market had 13 homes for sale in October 2024, a 27.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Wolverine Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wolverine Lake, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Wolverine Lake in October 2024, down by 50.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 26 Days | -1.9% |
Summary: Homes in Wolverine Lake had an average of 26 days on market in Oct 2024, down by 1.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wolverine Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Wolverine Lake; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
