Is 48034, 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, 48034 has remained a Seller's Market.
Key Takeaway
48034 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48034, MI
How much do homes in 48034, MI cost?
Median Sold Price
$195,500
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48034 have sold for 24.1% less than they did a year ago.
Summary: The median home sold price in 48034 was $195,500 in April 2024, down 24.1% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $96.2K | $107K | +11.2% |
| 2 Bedrooms | $183K | $156.5K | -14.5% |
| 3 Bedrooms | $255K | $218.5K | -14.3% |
| 4 Bedrooms | $390K | $310K | -20.5% |
| 5+ Bedrooms | $457.1K | $480K | +5.0% |
Summary: 48034 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes decreased by 14.5%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 20.5%, and 5+ bedroom homes increased by 5%.
Housing Supply in 48034, MI
How many homes are available in 48034, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The 48034 real estate market had 25 homes for sale in April 2024, a 13.6% 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 | 7 | 10 | +42.9% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48034 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 increased by 42.9%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48034, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48034 in April 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for 48034, MI
How long does it take to sell a home in 48034, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48034 has remained consistent over time.
Summary: During April 2024, 5 homes were sold in 48034; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
