Is 48060, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 48060 has remained a Seller's Market.
Key Takeaway
48060 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48060, MI
How much do homes in 48060, MI cost?
Median Sold Price
$155,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48060 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 48060 was $155,000 in March 2024, up 8% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83.7K | $20K | -76.1% |
| 2 Bedrooms | $125K | $122K | -2.4% |
| 3 Bedrooms | $155K | $165K | +6.5% |
| 4 Bedrooms | $143.9K | $200K | +39.0% |
| 5+ Bedrooms | $180K | $150K | -16.7% |
Summary: 48060 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 76.1%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 39%, and 5+ bedroom homes decreased by 16.7%.
Housing Supply in 48060, MI
How many homes are available in 48060, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 92 | +39.4% |
Summary: The 48060 real estate market had 92 homes for sale in March 2024, a 39.4% 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 | 17 | 24 | +41.2% |
| 3 Bedrooms | 29 | 40 | +37.9% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The 48060 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 41.2%, 3 bedroom homes increased by 37.9%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 25 | +66.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48060, you may be able to get a good deal. 48% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 48060 in March 2024, up by 66.7% month-over-month. Of the 25 sold homes, 48% were sold under asking, 28% were sold at asking, and 24% were sold over asking.
Days on Market for 48060, MI
How long does it take to sell a home in 48060, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 40 Days | -37.0% |
Summary: Homes in 48060 had an average of 40 days on market in Mar 2024, down by 37% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48060 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 48060; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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.