Is 48075, 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, 48075 has remained a Seller's Market.
Housing Prices in 48075, MI
How much do homes in 48075, MI cost?
Median Sold Price
$212,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48075 was $212,000 in March 2024, up 6% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $128.5K | +2.8% |
2 Bedrooms | $162K | $170.5K | +5.2% |
3 Bedrooms | $200K | $218K | +9.0% |
4 Bedrooms | $280K | $260K | -7.1% |
5+ Bedrooms | $305K | $382K | +25.2% |
Summary: 48075 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 9%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 25.2%.
Housing Supply in 48075, MI
How many homes are available in 48075, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
54 | 49 | -9.3% |
Summary: The 48075 real estate market had 49 homes for sale in March 2024, a 9.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 22 | 15 | -31.8% |
3 Bedrooms | 19 | 24 | +26.3% |
4 Bedrooms | 10 | 7 | -30.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48075 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 decreased by 31.8%, 3 bedroom homes increased by 26.3%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 14 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48075 in March 2024, down by 33.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 21% were sold at asking, and 36% were sold over asking.
Days on Market for 48075, MI
How long does it take to sell a home in 48075, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
115 Days | 47 Days | -58.9% |
Summary: Homes in 48075 had an average of 47 days on market in Mar 2024, down by 58.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 48075; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.