Is 48003, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48003 was a Neutral Market.
Housing Prices in 48003, MI
How much do homes in 48003, MI cost?
Median Sold Price
$336,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48003 was $336,000 in March 2024, up 5% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $302.5K | $211.5K | -30.1% |
3 Bedrooms | $322.5K | $300K | -7.0% |
4 Bedrooms | $295K | $440K | +49.2% |
5+ Bedrooms | $514.9K | $347.5K | -32.5% |
Summary: 48003 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.1%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 49.2%, and 5+ bedroom homes decreased by 32.5%.
Housing Supply in 48003, MI
How many homes are available in 48003, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 16 | 0.0% |
Summary: The 48003 real estate market had 16 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 13 | 13 | 0.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48003 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 6 | +500.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in 48003 in March 2024, up by 500.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 48003, MI
How long does it take to sell a home in 48003, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in 48003; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.