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LUTHER, MI 49656

Real Estate Market Report  ·  Lake County
Seller's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
8
⇩ 46.7% vs 15 last year
Pending
1
13% pending ratio
Median Price
$220,000
⇩ 4.3% vs $229,900 last year
Average Price
$1,049,229
⇧ 243.7% vs $305,296 last year
Days on Market
90
⇩ 15.9% vs 107 days last year

Market Context

Population: 1,731  ·  Density: 5.7/mi²  ·  Median household income: $52,308

Typical home value: $109,351  ·  Homeownership: 86.2%

Market Analysis

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

The LUTHER, MI real estate market (49656) currently shows 8 active listings, with 1 pending sales. Homes are averaging 90 days on the market before going under contract.

Inventory has tightened compared to last year, with 7 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 90 days on market compared to 107 days last year.

The median listing price has fallen 4.3% year-over-year, from $229,900 to $220,000.

Whether you are buying or selling in LUTHER, 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 Trends

Inventory & Days on Market

Year over Year
  • Listings: 8 this year vs 15 last year
  • Days on market: 90 now vs 107 last year

Median & Average Pricing

Year over Year
  • Median: $220,000 (-4.3% YoY)
  • Average: $1,049,229 (+243.7% 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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 27.9 miles — 113 listings ($38,871,677 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
49656Luther, MI 496560.0 mi8$8,393,832$220,000$1,049,229
49644Irons, MI 4964411.7 mi19$6,708,995$259,900$353,105
49655Leroy, MI 4965513.0 mi11$3,588,387$275,000$326,217
49677Reed City, MI 4967713.3 mi12$2,566,584$177,450$213,882
49689Wellston, MI 4968915.4 mi10$1,670,560$179,900$167,056
49638Harrietta, MI 4963816.3 mi2$383,266$132,450$191,633
49639Hersey, MI 4963920.6 mi6$1,271,700$205,000$211,950
49309Bitely, MI 4930922.1 mi9$2,206,674$169,500$245,186
49619Brethren, MI 4961922.5 mi7$2,920,981$394,450$417,283
49668Mesick, MI 4966824.2 mi7$2,587,319$288,000$369,617
49405Custer, MI 4940526.4 mi6$1,595,178$257,450$265,863
49645Kaleva, MI 4964527.3 mi7$1,189,300$169,900$169,900
49411Free Soil, MI 4941127.9 mi9$3,788,901$322,000$420,989

Frequently Asked Questions

How many homes are for sale in LUTHER, MI 49656?

As of January 2026, there are 8 active listings in LUTHER, MI (zip code 49656), compared to 15 the prior year.

What is the median home price in LUTHER, MI 49656?

The median listing price in LUTHER, MI 49656 is $220,000 as of January 2026, a 4.3% decrease from $229,900 the prior year.

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

Homes in LUTHER, MI 49656 spend an average of 90 days on the market before going under contract, compared to 107 days the prior year.

Is it a seller's or buyer's market in LUTHER, MI 49656?

Based on current inventory and days-on-market data as of January 2026, LUTHER, MI 49656 is currently a Seller's Market. Inventory has tightened compared to last year, with 7 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 90 days on market compared to 107 days last year.

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

With SELL123.com's maximum 3% commission, sellers in LUTHER, MI 49656 save an estimated $4,400 compared to a typical 5% commission on the median listing price of $220,000. 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.