Why Live in Sylvan Lake
Sylvan Lake is a small community of fewer than 1,700 residents, situated between Detroit and Flint, Michigan. The neighborhood is centered around its picturesque namesake lake, which offers various recreational activities such as fishing, swimming, and boating. Residents can dock at the members-only Oakland County Boat Club marina, their private docks, or one of the city's 166 docking spaces. The area features residents-only parks like Lakeview Park, with a boat launch and picnic areas, and Ferndale Park, which includes a sandy beach and playground. The community has a two-dog limit per household, and dogs are allowed to swim in designated areas. Sylvan Lake is known for its year-round appeal, with social events hosted at the Sylvan Lake Community Center and access to the 16-mile Clinton River Trail. Dining options include Ellen’s Bakery & Café for breakfast and Sylvan Table for fine dining. Highway 24 provides access to nearby amenities like Costco and Menards. The neighborhood has low crime risk areas, with 24/7 police protection and community support programs for seniors. Housing styles range from remodeled neocolonials and Tudor revivals to midcentury split-levels and contemporary builds, with most homes valued around $375,000. Students on the west side of Sylvan Lake attend highly rated schools: Roosevelt Elementary, West Bloomfield Middle, and West Bloomfield High. The neighborhood's attractions and well-maintained outdoor spaces make it a desirable place to live.
Frequently Asked Questions
What is the average home price in Sylvan Lake, MI?
Homes for sale in Sylvan Lake, MI have an average home price of $496,887.
How many homes have sold over the last 12 months in Sylvan Lake, MI?
21 homes have sold in Sylvan Lake, MI over the last 12 months.
What are the most popular zip codes in Sylvan Lake, MI?
How much do you need to make to afford a house in Sylvan Lake?
The median home price in Sylvan Lake is $369,950. If you put a 20% down payment of $74,000 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $1,920 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $82K a year to afford the median home price in Sylvan Lake.
How are the schools in Sylvan Lake, MI?
Home Trends in Sylvan Lake, MI
On average, homes in Sylvan Lake, MI sell after 27 days on the market compared to the national average of 50 days. The median sale price for homes in Sylvan Lake, MI over the last 12 months is $339,899, up 22% from the median home sale price over the previous 12 months.
Median Sale Price
$339,899
Median Single Family Sale Price
$352,450
Average Price Per Sq Ft
$266
Number of Homes for Sale
3
Last 12 months Home Sales
21
Median List Price
$369,950
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
22%
