Is 48091, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48091 has remained a Seller's Market.
Housing Prices in 48091, MI
How much do homes in 48091, MI cost?
Median Sold Price
$148,300
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48091 was $148,300 in April 2024, up 7.4% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $63K | $67K | +6.3% |
2 Bedrooms | $100K | $106.2K | +6.3% |
3 Bedrooms | $150K | $161.5K | +7.7% |
4 Bedrooms | $178K | $178.7K | 0.4% |
5+ Bedrooms | $140K | $172.5K | +23.2% |
Summary: 48091 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 23.2%.
Housing Supply in 48091, MI
How many homes are available in 48091, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
66 | 79 | +19.7% |
Summary: The 48091 real estate market had 79 homes for sale in April 2024, a 19.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 42 | 54 | +28.6% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48091 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 17 | -37.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in 48091 in April 2024, down by 37.0% month-over-month. Of the 17 sold homes, 47% were sold under asking, 0% were sold at asking, and 53% were sold over asking.
Days on Market for 48091, MI
How long does it take to sell a home in 48091, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
56 Days | 34 Days | -38.3% |
Summary: Homes in 48091 had an average of 34 days on market in Apr 2024, down by 38.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 17 homes were sold in 48091; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.