Is 48910, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 48910 has remained a Seller's Market.
Housing Prices in 48910, MI
How much do homes in 48910, MI cost?
Median Sold Price
$135,500
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 48910 was $135,500 in May 2024, up 13.2% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $60K | $82.4K | +37.4% |
2 Bedrooms | $95K | $110K | +15.8% |
3 Bedrooms | $130K | $147.6K | +13.5% |
4 Bedrooms | $141K | $165K | +17.0% |
5+ Bedrooms | $147.2K | $123.5K | -16.1% |
Summary: 48910 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.4%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 17%, and 5+ bedroom homes decreased by 16.1%.
Housing Supply in 48910, MI
How many homes are available in 48910, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
152 | 159 | +4.6% |
Summary: The 48910 real estate market had 159 homes for sale in May 2024, a 4.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 3 | -40.0% |
2 Bedrooms | 59 | 58 | -1.7% |
3 Bedrooms | 69 | 73 | +5.8% |
4 Bedrooms | 15 | 20 | +33.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 48910 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 56 | 0.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Summary: A total of 56 homes were sold or pending in 48910 in May 2024, the same as the previous month. Of the 56 sold homes, 23% were sold under asking, 16% were sold at asking, and 61% were sold over asking.
Days on Market for 48910, MI
How long does it take to sell a home in 48910, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 12 Days | -66.8% |
Summary: Homes in 48910 had an average of 12 days on market in May 2024, down by 66.8% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 56 homes were sold in 48910; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.