Is 48066, 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, 48066 has remained a Seller's Market.
Housing Prices in 48066, MI
How much do homes in 48066, MI cost?
Median Sold Price
$162,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48066 was $162,000 in March 2024, up 6.6% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $58.9K | $69.7K | +18.4% |
2 Bedrooms | $105K | $105K | 0.0% |
3 Bedrooms | $160K | $172.7K | +8.0% |
4 Bedrooms | $165K | $185K | +12.1% |
5+ Bedrooms | $248.5K | $144.9K | -41.7% |
Summary: 48066 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 41.7%.
Housing Supply in 48066, MI
How many homes are available in 48066, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
102 | 129 | +26.5% |
Summary: The 48066 real estate market had 129 homes for sale in March 2024, a 26.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 20 | 30 | +50.0% |
3 Bedrooms | 67 | 81 | +20.9% |
4 Bedrooms | 8 | 11 | +37.5% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48066 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 increased by 50%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 40 | +60.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in 48066 in March 2024, up by 60.0% month-over-month. Of the 40 sold homes, 40% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for 48066, MI
How long does it take to sell a home in 48066, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
77 Days | 22 Days | -70.5% |
Summary: Homes in 48066 had an average of 22 days on market in Mar 2024, down by 70.5% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 40 homes were sold in 48066; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.