Is 48009, 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, 48009 has remained a Seller's Market.
Key Takeaway
48009 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48009, MI
How much do homes in 48009, MI cost?
Median Sold Price
$744,526
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48009 have sold for 20.2% more than they did a year ago.
Summary: The median home sold price in 48009 was $744,526 in April 2024, up 20.2% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195.8K | $300K | +53.2% |
| 2 Bedrooms | $310K | $367K | +18.4% |
| 3 Bedrooms | $502.5K | $527.5K | +5.0% |
| 4 Bedrooms | $950K | $1.0M | +10.5% |
| 5+ Bedrooms | $1.5M | $2.0M | +27.3% |
Summary: 48009 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.2%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 27.3%.
Housing Supply in 48009, MI
How many homes are available in 48009, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 108 | 130 | +20.4% |
Summary: The 48009 real estate market had 130 homes for sale in April 2024, a 20.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 10 | 14 | +40.0% |
| 3 Bedrooms | 29 | 36 | +24.1% |
| 4 Bedrooms | 40 | 46 | +15.0% |
| 5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The 48009 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 32 | -11.1% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48009, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in 48009 in April 2024, down by 11.1% month-over-month. Of the 32 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 48009, MI
How long does it take to sell a home in 48009, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 17 Days | -35.0% |
Summary: Homes in 48009 had an average of 17 days on market in Apr 2024, down by 35% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48009 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 32 homes were sold in 48009; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% 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.