Is 48001, 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, 48001 has remained a Seller's Market.
Key Takeaway
48001 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48001, MI
How much do homes in 48001, MI cost?
Median Sold Price
$234,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48001 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 48001 was $234,000 in April 2024, up 3.5% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50.6K | N/A |
| 2 Bedrooms | $168K | $200K | +19.0% |
| 3 Bedrooms | $223.7K | $235.5K | +5.3% |
| 4 Bedrooms | $459K | $290K | -36.8% |
| 5+ Bedrooms | $475K | $225K | -52.6% |
Summary: 48001 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 36.8%, and 5+ bedroom homes decreased by 52.6%.
Median Sold Price Compared To Nearby Zip Codes
| 48039 | $187.5K | $200K | +6.7% |
| 48001 | $226K | $234K | +3.5% |
| 48023 | $277.5K | $269.9K | -2.7% |
Housing Supply in 48001, MI
How many homes are available in 48001, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 27 | +50.0% |
Summary: The 48001 real estate market had 27 homes for sale in April 2024, a 50.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 10 | 19 | +90.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48001 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 90%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48001, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48001 in April 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 48001, MI
How long does it take to sell a home in 48001, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48001 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 48001; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.