Is 48017, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 48017 has remained a Seller's Market.
Key Takeaway
48017 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48017, MI
How much do homes in 48017, MI cost?
Median Sold Price
$290,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48017 have sold for 12% more than they did a year ago.
Summary: The median home sold price in 48017 was $290,000 in March 2024, up 12% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $127.5K | $125K | -2.0% |
| 2 Bedrooms | $220K | $215.5K | -2.0% |
| 3 Bedrooms | $265K | $292.5K | +10.4% |
| 4 Bedrooms | $307.5K | $372.8K | +21.2% |
| 5+ Bedrooms | $335K | $349.9K | +4.4% |
Summary: 48017 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 4.4%.
Housing Supply in 48017, MI
How many homes are available in 48017, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Summary: The 48017 real estate market had 30 homes for sale in March 2024, a 3.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 20 | 17 | -15.0% |
| 4 Bedrooms | 0 | 3 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48017 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 increased by 20%, 3 bedroom homes decreased by 15%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48017, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48017 in March 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market for 48017, MI
How long does it take to sell a home in 48017, MI?
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48017 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 48017; 78% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
