Is 48025, 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, 48025 has remained a Seller's Market.
Housing Prices in 48025, MI
How much do homes in 48025, MI cost?
Median Sold Price
$542,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48025 was $542,000 in April 2024, up 3.2% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $580K | - | N/A |
2 Bedrooms | $429.9K | $350K | -18.6% |
3 Bedrooms | $411K | $445K | +8.3% |
4 Bedrooms | $619K | $610.5K | -1.4% |
5+ Bedrooms | $887.5K | $725K | -18.3% |
Summary: 48025 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 decreased by 18.6%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 18.3%.
Housing Supply in 48025, MI
How many homes are available in 48025, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 60 | +25.0% |
Summary: The 48025 real estate market had 60 homes for sale in April 2024, a 25.0% 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 | 6 | 3 | -50.0% |
3 Bedrooms | 18 | 26 | +44.4% |
4 Bedrooms | 16 | 21 | +31.3% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The 48025 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 decreased by 50%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 14 | -17.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48025 in April 2024, down by 17.6% month-over-month. Of the 14 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% were sold over asking.
Days on Market for 48025, MI
How long does it take to sell a home in 48025, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
172 Days | 34 Days | -80.3% |
Summary: Homes in 48025 had an average of 34 days on market in Apr 2024, down by 80.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in 48025; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.