Is 48089, 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, 48089 has remained a Seller's Market.
Housing Prices in 48089, MI
How much do homes in 48089, MI cost?
Median Sold Price
$120,916
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48089 was $120,916 in March 2024, up 2.7% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $51.5K | - | N/A |
2 Bedrooms | $81.2K | $89.5K | +10.2% |
3 Bedrooms | $130K | $135K | +3.8% |
4 Bedrooms | $130K | $129.2K | -0.6% |
5+ Bedrooms | $167.5K | $175K | +4.5% |
Summary: 48089 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 10.2%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 4.5%.
Housing Supply in 48089, MI
How many homes are available in 48089, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
104 | 109 | +4.8% |
Summary: The 48089 real estate market had 109 homes for sale in March 2024, a 4.8% 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 | 34 | 36 | +5.9% |
3 Bedrooms | 58 | 60 | +3.4% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48089 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 5.9%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 30 | +30.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in 48089 in March 2024, up by 30.4% month-over-month. Of the 30 sold homes, 50% were sold under asking, 23% were sold at asking, and 27% were sold over asking.
Days on Market for 48089, MI
How long does it take to sell a home in 48089, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
130 Days | 24 Days | -81.2% |
Summary: Homes in 48089 had an average of 24 days on market in Mar 2024, down by 81.2% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in 48089; 80% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.