Is 48045, 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, 48045 was a Seller's Market.
Key Takeaway
48045 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48045, MI
How much do homes in 48045, MI cost?
Median Sold Price
$250,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48045 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 48045 was $250,000 in March 2024, up 11.1% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | $109.9K | -48.2% |
| 2 Bedrooms | $175K | $205K | +17.1% |
| 3 Bedrooms | $260K | $280K | +7.7% |
| 4 Bedrooms | $432.2K | $430K | -0.5% |
| 5+ Bedrooms | $640K | $250K | -60.9% |
Summary: 48045 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.2%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 60.9%.
Housing Supply in 48045, MI
How many homes are available in 48045, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 56 | +43.6% |
Summary: The 48045 real estate market had 56 homes for sale in March 2024, a 43.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 23 | +76.9% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 48045 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 76.9%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48045, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48045 in March 2024, down by 27.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 48045, MI
How long does it take to sell a home in 48045, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 36 Days | -56.6% |
Summary: Homes in 48045 had an average of 36 days on market in Mar 2024, down by 56.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48045 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 48045; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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.