Is 48021, 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, 48021 has remained a Seller's Market.
Housing Prices in 48021, MI
How much do homes in 48021, MI cost?
Median Sold Price
$150,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48021 was $150,000 in March 2024, up 7.1% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $26K | $29.4K | +13.1% |
2 Bedrooms | $104K | $115K | +10.6% |
3 Bedrooms | $145K | $151.1K | +4.3% |
4 Bedrooms | $155.5K | $168.2K | +8.2% |
5+ Bedrooms | $189.9K | $178K | -6.3% |
Summary: 48021 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 6.3%.
Housing Supply in 48021, MI
How many homes are available in 48021, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
89 | 107 | +20.2% |
Summary: The 48021 real estate market had 107 homes for sale in March 2024, a 20.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 19 | +26.7% |
3 Bedrooms | 61 | 76 | +24.6% |
4 Bedrooms | 9 | 9 | 0.0% |
5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 48021 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 24.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 24 | -14.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in 48021 in March 2024, down by 14.3% month-over-month. Of the 24 sold homes, 46% were sold under asking, 4% were sold at asking, and 50% were sold over asking.
Days on Market for 48021, MI
How long does it take to sell a home in 48021, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
75 Days | 28 Days | -62.1% |
Summary: Homes in 48021 had an average of 28 days on market in Mar 2024, down by 62.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in 48021; 54% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.