Is Lachine, 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, Lachine was a Neutral Market.
Key Takeaway
Lachine is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lachine, MI
How much do homes in Lachine, MI cost?
Median Sold Price
$205,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lachine have sold for 51.9% more than they did a year ago.
Summary: The median home sold price in Lachine was $205,000 in May 2024, up 51.9% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $181K | N/A |
| 2 Bedrooms | $120K | $104K | -13.3% |
| 3 Bedrooms | $135K | $274K | +103.0% |
| 4 Bedrooms | $196.4K | $390K | +98.5% |
| 5+ Bedrooms | $204.7K | $880K | +329.8% |
Summary: Lachine 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 13.3%, 3 bedroom homes increased by 103%, 4 bedroom homes increased by 98.5%, and 5+ bedroom homes increased by 329.8%.
Median Sold Price Compared To Nearby Cities
| Lachine | $135K | $205K | +51.9% |
| Ossineke Township | $150K | $159K | +6.0% |
| Wilson Township | $194K | $85K | -56.2% |
Housing Supply in Lachine, MI
How many homes are available in Lachine, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Summary: The Lachine real estate market had 8 homes for sale in May 2024, a 20.0% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 5 | 2 | -60.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Lachine 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 decreased by 60%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lachine, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Lachine in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lachine, MI
We’re sorry, we don't have information for this market at the moment
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