Is 48036, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 48036 has remained a Seller's Market.
Housing Prices in 48036, MI
How much do homes in 48036, MI cost?
Median Sold Price
$216,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 48036 was $216,000 in February 2024, down 11.6% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $52K | - | N/A |
2 Bedrooms | $162.7K | $175K | +7.5% |
3 Bedrooms | $232.5K | $222.5K | -4.3% |
4 Bedrooms | $360.6K | $310K | -14.1% |
5+ Bedrooms | $420K | $391K | -6.9% |
Summary: 48036 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.5%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 6.9%.
Housing Supply in 48036, MI
How many homes are available in 48036, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
53 | 57 | +7.5% |
Summary: The 48036 real estate market had 57 homes for sale in February 2024, a 7.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 16 | 16 | 0.0% |
3 Bedrooms | 22 | 27 | +22.7% |
4 Bedrooms | 7 | 6 | -14.3% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The 48036 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
13 | 16 | +23.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 48036 in February 2024, up by 23.1% month-over-month. Of the 16 sold homes, 50% were sold under asking, 19% were sold at asking, and 31% were sold over asking.
Days on Market for 48036, MI
How long does it take to sell a home in 48036, MI?
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 16 homes were sold in 48036; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.