Is 48079, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48079 was a Seller's Market.
Key Takeaway
48079 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48079, MI
How much do homes in 48079, MI cost?
Median Sold Price
$294,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48079 have sold for 17.3% more than they did a year ago.
Summary: The median home sold price in 48079 was $294,500 in March 2024, up 17.3% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | - | N/A |
| 2 Bedrooms | $175K | $312.5K | +78.6% |
| 3 Bedrooms | $250K | $283K | +13.2% |
| 4 Bedrooms | $370K | $335K | -9.5% |
| 5+ Bedrooms | $411K | $535K | +30.2% |
Summary: 48079 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 78.6%, 3 bedroom homes increased by 13.2%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 30.2%.
Housing Supply in 48079, MI
How many homes are available in 48079, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 23 | +43.8% |
Summary: The 48079 real estate market had 23 homes for sale in March 2024, a 43.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 8 | 14 | +75.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48079 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 remained the same, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48079, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48079 in March 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48079, MI
How long does it take to sell a home in 48079, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 84 Days | 146 Days | +74.6% |
Summary: Homes in 48079 had an average of 146 days on market in Mar 2024, up by 74.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 48079 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in 48079; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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. 
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.