Is Interlochen, 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, Interlochen was a Buyer's Market.
Housing Prices in Interlochen, MI
How much do homes in Interlochen, MI cost?
Median Sold Price
$349,900
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Interlochen was $349,900 in May 2024, up 18.6% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $119.5K | -0.4% |
2 Bedrooms | $92K | $279K | +203.3% |
3 Bedrooms | $304.7K | $345K | +13.2% |
4 Bedrooms | $390K | $440K | +12.8% |
5+ Bedrooms | $661.6K | $535K | -19.1% |
Summary: Interlochen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 203.3%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 19.1%.
Median Sold Price Compared To Nearby Cities
Interlochen | $294.9K | $349.9K | +18.6% |
Grant Township | $220K | $236K | +7.3% |
Green Lake Township | $370K | $358.5K | -3.1% |
Housing Supply in Interlochen, MI
How many homes are available in Interlochen, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 22 | -8.3% |
Summary: The Interlochen real estate market had 22 homes for sale in May 2024, a 8.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 8 | 6 | -25.0% |
3 Bedrooms | 10 | 9 | -10.0% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Interlochen housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Interlochen in May 2024, down by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Interlochen, MI
How long does it take to sell a home in Interlochen, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
77 Days | 33 Days | -56.7% |
Summary: Homes in Interlochen had an average of 33 days on market in May 2024, down by 56.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Interlochen; 17% of homes were sold within 30 days, 83% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.