Is 48043, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48043 was a Seller's Market.
Key Takeaway
48043 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48043, MI
How much do homes in 48043, MI cost?
Median Sold Price
$160,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48043 have sold for 5.8% less than they did a year ago.
Summary: The median home sold price in 48043 was $160,000 in March 2024, down 5.8% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65.1K | $56K | -14.0% |
| 2 Bedrooms | $128.9K | $122K | -5.4% |
| 3 Bedrooms | $175K | $170K | -2.9% |
| 4 Bedrooms | $170K | $170K | 0.0% |
| 5+ Bedrooms | $268.5K | $250K | -6.9% |
Summary: 48043 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 6.9%.
Housing Supply in 48043, MI
How many homes are available in 48043, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 32 | +28.0% |
Summary: The 48043 real estate market had 32 homes for sale in March 2024, a 28.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 9 | 14 | +55.6% |
| 4 Bedrooms | 7 | 11 | +57.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48043 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48043, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48043 in March 2024, down by 55.6% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 48043, MI
How long does it take to sell a home in 48043, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 34 Days | -26.1% |
Summary: Homes in 48043 had an average of 34 days on market in Mar 2024, down by 26.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48043 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in 48043; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.