Is Lenox 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, Lenox Township was a Seller's Market.
Key Takeaway
Lenox Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lenox Township, MI
How much do homes in Lenox Township, MI cost?
Median Sold Price
$290,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lenox Township have sold for 6% more than they did a year ago.
Summary: The median home sold price in Lenox Township was $290,000 in May 2024, up 6% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $184.9K | $66K | -64.3% |
| 3 Bedrooms | $260K | $275K | +5.8% |
| 4 Bedrooms | $345K | $338.9K | -1.7% |
| 5+ Bedrooms | $350K | $356.2K | +1.8% |
Summary: Lenox 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 decreased by 64.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 1.8%.
Housing Supply in Lenox Township, MI
How many homes are available in Lenox Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Summary: The Lenox Township real estate market had 20 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Lenox 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lenox Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Lenox Township in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lenox Township, MI
How long does it take to sell a home in Lenox Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 11 Days | -8.3% |
Summary: Homes in Lenox Township had an average of 11 days on market in May 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lenox Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Lenox 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.