Is 48085, 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, 48085 has remained a Seller's Market.
Housing Prices in 48085, MI
How much do homes in 48085, MI cost?
Median Sold Price
$444,950
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48085 was $444,950 in March 2024, up 12.3% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $340K | $340K | 0.0% |
3 Bedrooms | $355K | $400K | +12.7% |
4 Bedrooms | $451.3K | $476.9K | +5.7% |
5+ Bedrooms | $805.9K | $689.5K | -14.5% |
Summary: 48085 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 did not change, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 14.5%.
Housing Supply in 48085, MI
How many homes are available in 48085, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 39 | +8.3% |
Summary: The 48085 real estate market had 39 homes for sale in March 2024, a 8.3% 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 | 8 | 4 | -50.0% |
3 Bedrooms | 9 | 16 | +77.8% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48085 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 77.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 10 | -23.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 48085 in March 2024, down by 23.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for 48085, MI
How long does it take to sell a home in 48085, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 17 Days | -70.5% |
Summary: Homes in 48085 had an average of 17 days on market in Mar 2024, down by 70.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in 48085; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.