Is Bear Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$222,250
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Bear Lake was $222,250 in April 2024, up 20.1% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $80K | N/A |
2 Bedrooms | $160K | $135K | -15.6% |
3 Bedrooms | $200.6K | $234.5K | +16.9% |
4 Bedrooms | $191.9K | $243K | +26.6% |
5+ Bedrooms | - | $392.4K | N/A |
Summary: Bear Lake housing prices by bedroom type for April 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 increased by 16.9%, 4 bedroom homes increased by 26.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Bear Lake | $185K | $222.2K | +20.1% |
Bear Lake Township | $200.6K | $235.2K | +17.3% |
Housing Supply in Bear Lake, MI
How many homes are available in Bear Lake, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 12 | +33.3% |
Summary: The Bear Lake real estate market had 12 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 2 | 3 | +50.0% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bear Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Bear Lake in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 42 Days | -17.6% |
Summary: Homes in Bear Lake had an average of 42 days on market in Apr 2024, down by 17.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Bear Lake; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.