Is 48083, 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, 48083 has remained a Seller's Market.
Housing Prices in 48083, MI
How much do homes in 48083, MI cost?
Median Sold Price
$325,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48083 was $325,000 in March 2024, down 1.5% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $200K | N/A |
2 Bedrooms | $185K | $192.5K | +4.1% |
3 Bedrooms | $285K | $310K | +8.8% |
4 Bedrooms | $430K | $455K | +5.8% |
5+ Bedrooms | $706K | $429K | -39.2% |
Summary: 48083 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 4.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 39.2%.
Housing Supply in 48083, MI
How many homes are available in 48083, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 33 | -15.4% |
Summary: The 48083 real estate market had 33 homes for sale in March 2024, a 15.4% decrease 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 | 6 | 2 | -66.7% |
3 Bedrooms | 17 | 15 | -11.8% |
4 Bedrooms | 15 | 15 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48083 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 66.7%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 9 | -43.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in 48083 in March 2024, down by 43.8% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for 48083, MI
How long does it take to sell a home in 48083, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 41 Days | -11.3% |
Summary: Homes in 48083 had an average of 41 days on market in Mar 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in 48083; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.