Is 48105, 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, 48105 has remained a Seller's Market.
Housing Prices in 48105, MI
How much do homes in 48105, MI cost?
Median Sold Price
$517,500
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48105 was $517,500 in March 2024, up 12.5% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $249K | N/A |
2 Bedrooms | $284.5K | $303.9K | +6.9% |
3 Bedrooms | $435K | $492K | +13.1% |
4 Bedrooms | $599.9K | $625K | +4.2% |
5+ Bedrooms | $817.5K | $750K | -8.3% |
Summary: 48105 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 6.9%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 8.3%.
Housing Supply in 48105, MI
How many homes are available in 48105, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 82 | +30.2% |
Summary: The 48105 real estate market had 82 homes for sale in March 2024, a 30.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 12 | 19 | +58.3% |
3 Bedrooms | 26 | 32 | +23.1% |
4 Bedrooms | 19 | 22 | +15.8% |
5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The 48105 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 58.3%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 19 | +46.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 48105 in March 2024, up by 46.2% month-over-month. Of the 19 sold homes, 32% were sold under asking, 16% were sold at asking, and 53% were sold over asking.
Days on Market for 48105, MI
How long does it take to sell a home in 48105, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 47 Days | +1.1% |
Summary: Homes in 48105 had an average of 47 days on market in Mar 2024, up by 1.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in 48105; 47% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.