Is 48092, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 48092 has remained a Seller's Market.
Housing Prices in 48092, MI
How much do homes in 48092, MI cost?
Median Sold Price
$250,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 48092 was $250,000 in February 2024, up 8.7% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $105K | N/A |
2 Bedrooms | $196.5K | $235K | +19.6% |
3 Bedrooms | $225K | $250K | +11.1% |
4 Bedrooms | $299K | $305K | +2.0% |
5+ Bedrooms | $295.4K | $310.5K | +5.1% |
Summary: 48092 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 5.1%.
Housing Supply in 48092, MI
How many homes are available in 48092, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
44 | 43 | -2.3% |
Summary: The 48092 real estate market had 43 homes for sale in February 2024, a 2.3% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 9 | 7 | -22.2% |
3 Bedrooms | 29 | 32 | +10.3% |
4 Bedrooms | 5 | 3 | -40.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48092 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
17 | 14 | -17.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48092 in February 2024, down by 17.6% month-over-month. Of the 14 sold homes, 36% were sold under asking, 29% were sold at asking, and 36% were sold over asking.
Days on Market for 48092, MI
How long does it take to sell a home in 48092, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
48 Days | 36 Days | -25.2% |
Summary: Homes in 48092 had an average of 36 days on market in Feb 2024, down by 25.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 14 homes were sold in 48092; 43% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.