Is Lapeer Township, 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, Lapeer Township has remained a Seller's Market.
Housing Prices in Lapeer Township, MI
How much do homes in Lapeer Township, MI cost?
Median Sold Price
$255,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lapeer Township was $255,000 in May 2024, up 10.2% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139K | $85K | -38.8% |
2 Bedrooms | $165K | $216.9K | +31.5% |
3 Bedrooms | $230K | $235K | +2.2% |
4 Bedrooms | $278K | $324.9K | +16.9% |
5+ Bedrooms | $412.5K | $434.5K | +5.3% |
Summary: Lapeer Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.8%, 2 bedroom homes increased by 31.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
Lapeer | $230.3K | $255.8K | +11.1% |
Lapeer Township | $231.5K | $255K | +10.2% |
Mayfield Township | $242.5K | $265K | +9.3% |
Metamora Township | $397K | $365K | -8.1% |
Attica Township | $315K | $270K | -14.3% |
Housing Supply in Lapeer Township, MI
How many homes are available in Lapeer Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
99 | 108 | +9.1% |
Summary: The Lapeer Township real estate market had 108 homes for sale in May 2024, a 9.1% 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 | 15 | 20 | +33.3% |
3 Bedrooms | 55 | 54 | -1.8% |
4 Bedrooms | 24 | 31 | +29.2% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Lapeer 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 increased by 33.3%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 25 | -16.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Lapeer Township in May 2024, down by 16.7% month-over-month. Of the 25 sold homes, 44% were sold under asking, 12% were sold at asking, and 44% were sold over asking.
Days on Market for Lapeer Township, MI
How long does it take to sell a home in Lapeer Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
8 Days | 22 Days | +150.7% |
Summary: Homes in Lapeer Township had an average of 22 days on market in May 2024, up by 150.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 25 homes were sold in Lapeer Township; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.