Is Bear 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, Bear Lake has remained a Seller's Market.
Housing Prices in Bear Lake, MI
How much do homes in Bear Lake, MI cost?
Median Sold Price
$210,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bear Lake was $210,000 in May 2024, up 4.7% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $80K | 0.0% |
2 Bedrooms | $160K | $135K | -15.6% |
3 Bedrooms | $215K | $210K | -2.3% |
4 Bedrooms | $520K | $243K | -53.3% |
5+ Bedrooms | - | $392.4K | N/A |
Summary: Bear 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 decreased by 15.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 53.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Bear Lake Township | $207.8K | $234.5K | +12.8% |
Bear Lake | $200.6K | $210K | +4.7% |
Housing Supply in Bear Lake, MI
How many homes are available in Bear Lake, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Summary: The Bear Lake real estate market had 13 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 3 | 5 | +66.7% |
4 Bedrooms | 6 | 4 | -33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bear 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 increased by 50%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Bear Lake in May 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Bear Lake, MI
How long does it take to sell a home in Bear Lake, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
76 Days | 86 Days | +13.6% |
Summary: Homes in Bear Lake had an average of 86 days on market in May 2024, up by 13.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Bear Lake; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.