Is 48073, 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, 48073 has remained a Seller's Market.
Housing Prices in 48073, MI
How much do homes in 48073, MI cost?
Median Sold Price
$330,000
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48073 was $330,000 in April 2024, up 8% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $102.5K | $114.5K | +11.7% |
2 Bedrooms | $188K | $198K | +5.3% |
3 Bedrooms | $310K | $340.6K | +9.9% |
4 Bedrooms | $480K | $467.5K | -2.6% |
5+ Bedrooms | $778K | $775K | -0.4% |
Summary: 48073 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 9.9%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 0.4%.
Housing Supply in 48073, MI
How many homes are available in 48073, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
93 | 141 | +51.6% |
Summary: The 48073 real estate market had 141 homes for sale in April 2024, a 51.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 20 | 31 | +55.0% |
3 Bedrooms | 47 | 79 | +68.1% |
4 Bedrooms | 17 | 19 | +11.8% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The 48073 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 55%, 3 bedroom homes increased by 68.1%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 51 | +88.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in 48073 in April 2024, up by 88.9% month-over-month. Of the 51 sold homes, 20% were sold under asking, 20% were sold at asking, and 61% were sold over asking.
Days on Market for 48073, MI
How long does it take to sell a home in 48073, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
88 Days | 13 Days | -85.0% |
Summary: Homes in 48073 had an average of 13 days on market in Apr 2024, down by 85% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 51 homes were sold in 48073; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.