Is 48059, 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, 48059 has remained a Seller's Market.
Housing Prices in 48059, MI
How much do homes in 48059, MI cost?
Median Sold Price
$254,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48059 was $254,000 in April 2024, up 12.9% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.9K | - | N/A |
2 Bedrooms | $200K | $198K | -1.0% |
3 Bedrooms | $224.9K | $246K | +9.4% |
4 Bedrooms | $348.4K | $339.9K | -2.5% |
5+ Bedrooms | $384.9K | $312K | -19.0% |
Summary: 48059 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 19%.
Median Sold Price Compared To Nearby Zip Codes
48059 | $225K | $254K | +12.9% |
48060 | $144.9K | $155K | +7.0% |
Housing Supply in 48059, MI
How many homes are available in 48059, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 31 | +40.9% |
Summary: The 48059 real estate market had 31 homes for sale in April 2024, a 40.9% 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 | 3 | 4 | +33.3% |
3 Bedrooms | 13 | 17 | +30.8% |
4 Bedrooms | 5 | 10 | +100.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48059 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 33.3%, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 8 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 48059 in April 2024, up by 14.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 38% were sold at asking, and 0% were sold over asking.
Days on Market for 48059, MI
How long does it take to sell a home in 48059, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in 48059; 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.