Is Lake Odessa, MI 48849 a buyer’s or seller’s market?
Lake Odessa is a seller’s market. With about 2.1 months of supply and 50% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 87% of U.S. ZIP codes, and #71 of 510 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Lake Odessa housing market right now
In the three months ending August 31, 2026, 50% of homes in Lake Odessa, MI 48849 sold above their list price, the typical home went under contract in 6 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 21 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 35%, homes sold faster (9 days then) and the median sale price fell 6% to $247,393. Overall, Lake Odessa is more competitive than a year ago, so tougher for buyers.
Within Ionia County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 80%. On our competition score, Lake Odessa ranks #71 of 510 MI ZIP codes with enough sales (score 82 out of 100).
Nearby, buyers who want less competition could look at Pewamo 48873 (0% sold over asking) or Hubbardston 48845 (0% sold over asking).
Run the numbers for 48849
Nearby markets
Belding 48809Seller’s market $187 /sq ftClarksville 48815Seller’s market $213 /sq ftHubbardston 48845Buyer’s market $164 /sq ftIonia 48846Seller’s market $146 /sq ft Browse all markets →Towns like Lake Odessa nearby
Find towns like Lake Odessa in other states →Where Lake Odessa is
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Questions about Lake Odessa real estate
Is Lake Odessa a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Lake Odessa, MI 48849 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lake Odessa?
The typical home went under contract in 6 days in the latest three months.
Do homes in Lake Odessa sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 99.3% of the list price.
What are property taxes in Lake Odessa?
About 1.13% of a home’s value a year in Ionia County, or roughly $4,520 on a $400,000 home.
What is the median home price in Lake Odessa?
The median sale price was $247,393 in the three months ending August 31, 2026, about $194 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology