Real Estate Statistics
|Avg. Days On Market||101|
Property Types (active listings)
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Check out this video for a look at Lake City, Michigan, or click here to learn more about life in Lake City.
Lake City Homes for Sale
There are different types of homes in the city with family homes being the most popular. There are also condominiums for sale, farms houses, apartments, and apartments of various sizes and with different amenities.
Modern homes have the latest technological and structural features for example high-end, luxury kitchen appliances.
Traditional homes will have an old appeal with traditional fireplaces in brick in perfect working condition and other traditional features that make the home look elegant and classic. Most residents own their homes because the housing is well priced, and the average home is well built with new and functional appliances. There is a wide variety of properties in the city, and you can find what is suitable for your needs.
Lake City, Michigan Real Estate Market
The housing market in Lake City is vibrant, with many homes on sale and quick sales. The average home sales prices are mostly influenced by the location and the size of the home, and the acreage of the land that it sits on. A typical home is $183,000 on average, while the per square foot price in the city is $114. However, the difference in price will vary based on the location and the size of the home.
The most expensive homes will have a listing price of anything from $800,000. The market is doing well, with the value of homes increasing by eight percent as of early 2021. It is good news if you are looking to buy a house in the city for investment purposes or for a second home that can earn you some rental income. The average rental rates in the city are $800. For a one-bedroomed apartment, the average rent is $680; for a two-bedroomed apartment, the average rent is $736, while a three-bedroomed apartment will mostly cost $3,825. The average cost of a home will largely depend on the size of the land it sits on and the location.
The housing market in Lake City is balanced, which means that the demand and supply of homes are equal. The average time it takes to sell a house- from the listing stage to the closing of the sale, will take an average of two months. Downtown lake City is the most expensive area to buy homes, with the average cost of a home having a median cost of $840,000 while the cheapest homes are found in the Northern part of the city, with the listing media price the average home being $147,500.
Houses For Sale in Lake City, Michigan
Lake City has some of the most beautiful properties sitting on attractive pieces of land. Because the area is generally rural, the lots are large and attractive. If you are looking for a single-family home, there are several options and homes with one bedroom and those with up to four bedrooms. Family homes of various sizes are the most prevalent in the area.
One-bedroomed homes are not very popular, and most family homes are two bedroomed to five-bedroom. The two-bedroom homes will on average range from $145,000 to up to $680,000 for a high-end home with very modern facilities and a good size lot. Three-bedroom homes will have an average cost price of $260,000 with basic facilities and amenities for a comfortable home.
Lake City housing has some great deals, such as an eight-bedroom house listed for $250,000, which does not need too many renovations. Whatever you need, you will be able to find a great home in Lake City. One of the best things about buying a property in the area is that the lots have great potential for expansion because of the vast space available.
You can get cheap homes that will need plenty of work but f you are looking to renovate and create a home to your specification, then this is a great option. There are ultra-modern homes available, that are move-in ready.
Lake City Community Overview
Lake City is a county seat city of Missaukee County and is surrounded by three lakes: Crooked Lake, Lake Missaukee, and Lake Sapphire. The lakes are close to one another, and plenty of homes in the area are next to the lakes. These homes have picturesque and peaceful views.
The town is cozy with a suburban feeling with beautiful homes, well-kept spacious walkways, and beautiful lake views. The town is close-knit, with members of the community being concerned about one another. The town has rural areas which are spacious with large tracts of land which are well kept and offer a great community for the growing population.
The average cost of living in the city is average compared to the rest of Michigan state. The weather in the state is wonderful in the summer months of June, July, and August, while the winters are harsh with freezing rain, snow, and plenty of wind. The most pleasant time of the year is the summer months because the temperature peaks at 82°F (28°C).
Recreation And Safety
Lake City is a vibrant place with plenty to do and many activities and events in the city or nearby towns. It has many natural features such as lakes, woodlands, streams, parks, and other natural features. Fishing in any one of the lakes is always a fun activity, and many shops sell the best fishing gear in the area. There are plenty of other outdoor activities such as hunting, skiing, golf, ice fishing, and cross country.
There are shopping stores where you can get all kinds of items that you will need. Lake City Mall is a great one-stop-shop with two department stores as well as several restaurants. The Dollar Store has plenty of fun knick-knacks and other essentials. The shops are well stocked, and you can find just about anything you need in the supermarkets and superstores.
Lake City has different culinary experiences, with many eateries serving different kinds of food. You can eat fast food from various restaurants such as Don's American Pizza and BC pizza. There are also fine dining options, casual eating at a sushi bar, steakhouses, and many other restaurants. Whatever you would like to eat will be available in Lake City.
Many eateries are near the various lakes, making for a beautiful dining experience, especially in the summer when you can eat outdoors. During winter, eating indoors with the beautiful views of the lakes is also a relaxing experience, and you are likely to bump into the residents with whom you can catch up.
There are lots to do in Lake City with attractions that both adults and children can visit. If you love the outdoors, there are equipped and safe camping grounds in the city, such as Goose Lake State Forest Campground and Long Lake Missaukee State Forest Campground, which provide great outdoor spaces for experiencing the Lake City outdoors.
For adrenaline seekers, the Merritt Speedway Dirt track is where you will enjoy spending a lot of time. There is a children's playground, and races are held every Saturday evening, making it one of the most fun places to spend some family time. For avid golfers, Missaukee Golf Club has an 18-hole facility that is open to the public. The beautifully manicured grounds are located on the South end of the city.
All kinds of houses are available near any of these recreation spots. The transport system is well developed, making it easy to either drive or use public means to visit these spots without any hustle. Living in Lake City is relaxing at a slower pace, but there are many activities and amenities that you can enjoy within the city and other nearby towns.
Known as The Christmas Tree Capital of the World, Christmas time is busy for the town, with people from all over coming to pick the best possible tree. There are many visitors in the town, and the season is marked with decorations and festivities such as singing carols, all organized by the residents of the city, which makes it a warm place to spend Christmas time.
Population and Crime Rate In Lake City
The population in the city is less than one thousand people, with the bulk of the population being middle-aged. It has a community sense among the residents engaging in many community-based activities. Most of the homes are occupied by families, making it a great place to raise a family. The crime rate in the city is low, with less than twenty percent of crime being committed for every one thousand people. It makes it safe to live in, and there are few break-ins and petty crimes, and even less violent crimes. Lake City is one of the safest cities to live in Michigan.
The city's southern end is the safest, while the population is spread out almost evenly throughout the city.
Schools Near Homes in Lake City, Michigan
The schools in Lake City are sufficient for the population and have high ratings on GreatSchools rating. There are two preschools available, one elementary school, one middle school, one high school, and three public district learning institutions.
Of all these, two are private institutions, while the other five are public learning institutions. They are well equipped, and the student-to-student-teacher ratio is eighteen to one, which ensures a good learning environment. The learning institutions are located on spacious grounds, typical of Lake City properties, making it one of the most pleasant places for children to learn.
The housing in the area is considerably close to any of the institutions and based on the age of your children, you are sure to find a learning institution close to you. There are many after-school activities catering to the various interests of the student population in the area.
Focused on Northern Michigan Investment Real Estate
Brook is focused on lifestyle real estate investment properties as most people want a vacation home to make lifelong memories that endure for their entire family, leave a profound legacy for generations, and they want a solid financial investment at the same time. While the area does have many good realtors, there aren’t many with the unique financial, vacation home investing, and technology marketing background. Brook uses his diverse skill set to help clients properly evaluate and determine whether a vacation home makes financial sense.
Continue Your Northern Michigan Real Estate Search. Explore homes and real estate in the Northern Michigan communities below or contact Brook Walsh to help you with your search.
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