Is 48081, 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, 48081 has remained a Seller's Market.
Housing Prices in 48081, MI
How much do homes in 48081, MI cost?
Median Sold Price
$235,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48081 was $235,000 in March 2024, up 2.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $91.8K | $61.5K | -33.1% |
2 Bedrooms | $195K | $187K | -4.1% |
3 Bedrooms | $230K | $240K | +4.3% |
4 Bedrooms | $320K | $247K | -22.8% |
5+ Bedrooms | $340K | $270K | -20.6% |
Summary: 48081 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.1%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 22.8%, and 5+ bedroom homes decreased by 20.6%.
Housing Supply in 48081, MI
How many homes are available in 48081, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 36 | +9.1% |
Summary: The 48081 real estate market had 36 homes for sale in March 2024, a 9.1% 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 | 4 | 9 | +125.0% |
3 Bedrooms | 26 | 23 | -11.5% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48081 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 125%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 13 | +18.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 48081 in March 2024, up by 18.2% month-over-month. Of the 13 sold homes, 15% were sold under asking, 15% were sold at asking, and 69% were sold over asking.
Days on Market for 48081, MI
How long does it take to sell a home in 48081, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
91 Days | 27 Days | -69.8% |
Summary: Homes in 48081 had an average of 27 days on market in Mar 2024, down by 69.8% 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, 13 homes were sold in 48081; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.