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LAKE, MI 48632

Real Estate Market Report  ·  Clare County
Balanced Market
April 2026  ·  Source: Realtor.com

Market Analysis

Data as of April 2026. Source: Realtor.com.

The LAKE, MI real estate market (48632) currently shows 40 active listings, with 10 pending sales. Homes are averaging 45 days on the market before going under contract.

Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice.

Homes are selling faster, averaging 45 days on market compared to 63 days last year.

The median listing price has fallen 19.8% year-over-year, from $246,200 to $197,400.

Whether you are buying or selling in LAKE, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 5,028  ·  Density: 15.8/mi²  ·  Median household income: $49,722

Typical home value: $129,405  ·  Homeownership: 91.2%

Market Overview

Active Listings
40
⇧ 2.6% vs 39 last year
Pending
10
25% pending ratio
Median Price
$197,400
⇩ 19.8% vs $246,200 last year
Average Price
$247,685
⇧ 1.9% vs $243,050 last year
Days on Market
45
⇩ 28.6% vs 63 days last year

Price Per Square Foot

Median $/sqft
$172
⇩ 11.3% vs $194/sqft last year
Median Home Size
1,097 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 40 this year vs 39 last year
  • Days on market: 45 now vs 63 last year

Median & Average Pricing

Year over Year
  • Median: $197,400 (-19.8% YoY)
  • Average: $247,685 (+1.9% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 27.9 miles — 130 listings ($55,811,558 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
48632Lake, MI 486320.0 mi21$4,891,971$177,450$232,951
48622Farwell, MI 486226.9 mi15$17,096,985$264,900$1,139,799
48893Weidman, MI 4889312.1 mi14$5,082,560$289,200$363,040
48617Clare, MI 4861715.1 mi11$3,294,643$216,077$299,513
48878Rosebush, MI 4887815.7 mi3$900,999$320,000$300,333
49340Remus, MI 4934016.8 mi10$9,633,930$359,900$963,393
49342Rodney, MI 4934218.7 mi5$1,257,835$219,900$251,567
49332Mecosta, MI 4933219.6 mi8$2,638,384$289,975$329,798
49310Blanchard, MI 4931023.6 mi6$1,024,824$170,750$170,804
48618Coleman, MI 4861824.5 mi19$4,976,556$259,950$261,924
49657McBain, MI 4965726.0 mi3$800,550$266,850$266,850
49632Falmouth, MI 4963226.6 mi2$362,800$181,400$181,400
48883Shepherd, MI 4888327.9 mi13$3,849,521$243,175$296,117

Frequently Asked Questions

How many homes are for sale in LAKE, MI 48632?

As of April 2026, there are 40 active listings in LAKE, MI (zip code 48632), compared to 39 the prior year.

What is the median home price in LAKE, MI 48632?

The median listing price in LAKE, MI 48632 is $197,400 as of April 2026, a 19.8% decrease from $246,200 the prior year.

How long do homes stay on the market in LAKE, MI?

Homes in LAKE, MI 48632 spend an average of 45 days on the market before going under contract, compared to 63 days the prior year.

Is it a seller's or buyer's market in LAKE, MI 48632?

Based on current inventory and days-on-market data as of April 2026, LAKE, MI 48632 is currently a Balanced Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are selling faster, averaging 45 days on market compared to 63 days last year.

How much can I save on real estate commission in LAKE, MI?

With SELL123.com's maximum 3% commission, sellers in LAKE, MI 48632 save an estimated $3,948 compared to a typical 5% commission on the median listing price of $197,400. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.