Is Central Lake, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Central Lake was a Seller's Market.
Key Takeaway
Central Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Central Lake, MI
How much do homes in Central Lake, MI cost?
Median Sold Price
$310,000
$214/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Central Lake have sold for 1.9% less than they did a month ago.
Summary: The median home sold price in Central Lake was $310,000 in April 2024, down 1.9% from last month, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $57.1K | - | N/A |
| 3 Bedrooms | $575K | $310K | -46.1% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Central Lake housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 46.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Central Lake | $316K | $310K | -1.9% |
| Central Lake Township | $316K | $310K | -1.9% |
Housing Supply in Central Lake, MI
How many homes are available in Central Lake, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 21 | +61.5% |
Summary: The Central Lake real estate market had 21 homes for sale in April 2024, a 61.5% 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 | 2 | 0 | -100.0% |
| 3 Bedrooms | 5 | 10 | +100.0% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Central 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 decreased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Central Lake in April 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Central Lake, MI
How long does it take to sell a home in Central Lake, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 129 Days | +296.9% |
Summary: Homes in Central Lake had an average of 129 days on market in Apr 2024, up by 296.9% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Central Lake are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 2 homes were sold in Central Lake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.