Is 48076, 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, 48076 has remained a Seller's Market.
Housing Prices in 48076, MI
How much do homes in 48076, MI cost?
Median Sold Price
$270,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48076 was $270,000 in March 2024, up 8% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85K | $91K | +7.1% |
2 Bedrooms | $160K | $148K | -7.5% |
3 Bedrooms | $238.5K | $260K | +9.0% |
4 Bedrooms | $322.5K | $330K | +2.3% |
5+ Bedrooms | $325K | $357.5K | +10.0% |
Summary: 48076 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 10%.
Housing Supply in 48076, MI
How many homes are available in 48076, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
55 | 59 | +7.3% |
Summary: The 48076 real estate market had 59 homes for sale in March 2024, a 7.3% increase 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 | 10 | 5 | -50.0% |
3 Bedrooms | 29 | 40 | +37.9% |
4 Bedrooms | 14 | 13 | -7.1% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48076 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 50%, 3 bedroom homes increased by 37.9%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 12 | -25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in 48076 in March 2024, down by 25.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 48076, MI
How long does it take to sell a home in 48076, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
81 Days | 21 Days | -73.6% |
Summary: Homes in 48076 had an average of 21 days on market in Mar 2024, down by 73.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in 48076; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.