Is Blue Lake Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Blue Lake Township was a Seller's Market.
Key Takeaway
Blue Lake Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Blue Lake Township, MI
How much do homes in Blue Lake Township, MI cost?
Median Sold Price
$304,450
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Blue Lake Township have sold for 13% less than they did a year ago.
Summary: The median home sold price in Blue Lake Township was $304,450 in May 2024, down 13% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129.9K | - | N/A |
| 2 Bedrooms | $266K | $281.6K | +5.9% |
| 3 Bedrooms | $350K | $320K | -8.6% |
| 4 Bedrooms | $447.4K | $380K | -15.1% |
| 5+ Bedrooms | $333K | $477.5K | +43.4% |
Summary: Blue Lake Township 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 5.9%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes increased by 43.4%.
Median Sold Price Compared To Nearby Cities
| Twin Lake | $270.5K | $270K | -0.2% |
| Whitehall Township | $291.2K | $286.9K | -1.5% |
| Blue Lake Township | $350K | $304.4K | -13.0% |
| Otto Township | $212.5K | $177.5K | -16.5% |
Housing Supply in Blue Lake Township, MI
How many homes are available in Blue Lake Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Summary: The Blue Lake Township real estate market had 8 homes for sale in May 2024, a 33.3% increase 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Blue Lake Township 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 decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Blue 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 1 homes were sold or pending in Blue Lake Township in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Blue Lake Township, MI
How long does it take to sell a home in Blue Lake Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 4 Days | 0.0% |
Summary: Homes in Blue Lake Township had an average of 4 days on market in May 2024, the same as last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Blue Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Blue Lake Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
