Is 48093, 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, 48093 has remained a Seller's Market.
Housing Prices in 48093, MI
How much do homes in 48093, MI cost?
Median Sold Price
$229,666
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48093 was $229,666 in March 2024, up 6.8% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.2K | $99K | +20.4% |
2 Bedrooms | $145K | $148.5K | +2.4% |
3 Bedrooms | $226.7K | $239.9K | +5.8% |
4 Bedrooms | $272.7K | $273.5K | 0.3% |
5+ Bedrooms | $296K | $316.5K | +6.9% |
Summary: 48093 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.4%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 6.9%.
Housing Supply in 48093, MI
How many homes are available in 48093, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 62 | +40.9% |
Summary: The 48093 real estate market had 62 homes for sale in March 2024, a 40.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 6 | +500.0% |
2 Bedrooms | 9 | 15 | +66.7% |
3 Bedrooms | 24 | 31 | +29.2% |
4 Bedrooms | 9 | 10 | +11.1% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48093 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 500%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 20 | +81.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 48093 in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 45% were sold under asking, 5% were sold at asking, and 50% were sold over asking.
Days on Market for 48093, MI
How long does it take to sell a home in 48093, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
79 Days | 17 Days | -78.1% |
Summary: Homes in 48093 had an average of 17 days on market in Mar 2024, down by 78.1% compared to last year.
Breakdown of Home Sale Times
16 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, 20 homes were sold in 48093; 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.