Is Lyon 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, Lyon Township was a Seller's Market.
Key Takeaway
Lyon 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 Lyon Township, MI
How much do homes in Lyon Township, MI cost?
Median Sold Price
$199,400
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lyon Township have sold for 5% less than they did a year ago.
Summary: The median home sold price in Lyon Township was $199,400 in May 2024, down 5% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $78K | N/A |
| 2 Bedrooms | $155.9K | $175K | +12.3% |
| 3 Bedrooms | $254.4K | $240K | -5.7% |
| 4 Bedrooms | $255K | $724K | +183.9% |
| 5+ Bedrooms | $250K | $732.5K | +193.0% |
Summary: Lyon 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 increased by 12.3%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 183.9%, and 5+ bedroom homes increased by 193%.
Median Sold Price Compared To Nearby Cities
| Gerrish Township | $192.5K | $263K | +36.6% |
| Lyon Township | $210K | $199.4K | -5.0% |
Housing Supply in Lyon Township, MI
How many homes are available in Lyon Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 34 | +30.8% |
Summary: The Lyon Township real estate market had 34 homes for sale in May 2024, a 30.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 10 | 17 | +70.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lyon Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 70%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lyon Township, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Lyon Township in May 2024, the same as the previous month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Lyon Township, MI
We’re sorry, we don't have information for this market at the moment
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