Is 48033, 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, 48033 has remained a Seller's Market.
Housing Prices in 48033, MI
How much do homes in 48033, MI cost?
Median Sold Price
$190,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48033 was $190,000 in March 2024, up 6.7% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $51.5K | $76.8K | +49.3% |
2 Bedrooms | $119.3K | $152K | +27.4% |
3 Bedrooms | $200K | $209K | +4.5% |
4 Bedrooms | $274.9K | $322K | +17.1% |
5+ Bedrooms | $365K | $245K | -32.9% |
Summary: 48033 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.3%, 2 bedroom homes increased by 27.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes decreased by 32.9%.
Housing Supply in 48033, MI
How many homes are available in 48033, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
35 | 31 | -11.4% |
Summary: The 48033 real estate market had 31 homes for sale in March 2024, a 11.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 10 | 9 | -10.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 10 | 8 | -20.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48033 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 10%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 11 | +37.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 48033 in March 2024, up by 37.5% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for 48033, MI
How long does it take to sell a home in 48033, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
161 Days | 18 Days | -88.5% |
Summary: Homes in 48033 had an average of 18 days on market in Mar 2024, down by 88.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 48033; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.