49304 Housing Market Report January 2025•Lake County, Michigan

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Housing Prices in 49304, MI

How much do homes in 49304, MI cost?

Housing Market Conditions

Is 49304, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

49304 is a Buyer's Market

Difference Since January 2024

At the same time last year, 49304 was a Seller's Market.

Insight

49304 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$150,000$137/SqFt
+$15,050
+11.2%

Based on all homes sold in the last 12 months

Insight

Homes in 49304 have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in 49304 was $150,000 in January 2025, up 11.2% from last year, and the median price per square foot was $137.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
49309
+26.3%
49304
+11.2%
49656
+4.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$80K$78.9K
-1.3%
2$103K$150K
+45.6%
3$145K$172.5K
+19.0%
4$307.4K$280K
-8.9%
5$536K$27.5K
-94.9%

Summary: 49304 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -1.3%. The home price for 2 bedroom homes increased by +45.6%. The home price for 3 bedroom homes increased by +19.0%. The home price for 4 bedroom homes decreased by -8.9%. The home price for 5 bedroom homes decreased by -94.9%.

Housing supply in 49304, MI

How many homes are available in 49304, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
33Last MonthJan 2025
332 months agoDec 2024
0.0 %
Change MoMDec – Jan

Summary: The 49304 real estate market had 33 homes for sale in Jan 2025, the same as Dec 2024

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
1Last MonthJan 2025
32 months agoDec 2024
-66.7 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
144
0.0%
21615
-6.3%
31112
+9.1%
422
0.0%
500
0.0%

Summary: 49304 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -6.3%. The inventory for 3 bedroom homes increased by +9.1%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 49304, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price0 Home

Insight

If you're buying a home in 49304, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 49304 in January 2025, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and and 100% were sold over asking.

Days on Market for 49304, MI

How long does it take to sell a home in 49304, MI?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in 49304 are selling fast, if you're buying plan to act quickly.

Summary: During January 2025, 1 homes were sold in 49304; 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.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
5 DaysThis YearJan 2025
69 Days1 year agoJan 2024
-92.8 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 49304 had an average listing age of 5 days in Jan 2025, down by 92.8% compared to the previous year.

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Newest Listings in 49304, MI

What homes are available in 49304, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., Michigan Regional Information Center LLC, and Northern Great Lakes Realtors MLS for the period 02/01/2023 - 02/01/2025

IDXDisclaimer: 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.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright © 2025 Northern Great Lakes REALTORS® MLS™ All Rights Reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 10:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.