Is 48125, 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, 48125 has remained a Seller's Market.
Housing Prices in 48125, MI
How much do homes in 48125, MI cost?
Median Sold Price
$148,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48125 was $148,000 in March 2024, up 5% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $110K | $119.9K | +9.0% |
3 Bedrooms | $145.3K | $151K | +3.9% |
4 Bedrooms | $151K | $181.5K | +20.2% |
5+ Bedrooms | $160K | $190K | +18.8% |
Summary: 48125 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 9%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 18.8%.
Housing Supply in 48125, MI
How many homes are available in 48125, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
55 | 53 | -3.6% |
Summary: The 48125 real estate market had 53 homes for sale in March 2024, a 3.6% decrease 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 | 8 | 0.0% |
3 Bedrooms | 40 | 39 | -2.5% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48125 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 remained the same, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 18 | +12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 48125 in March 2024, up by 12.5% month-over-month. Of the 18 sold homes, 33% were sold under asking, 6% were sold at asking, and 61% were sold over asking.
Days on Market for 48125, MI
How long does it take to sell a home in 48125, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
110 Days | 27 Days | -75.1% |
Summary: Homes in 48125 had an average of 27 days on market in Mar 2024, down by 75.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 48125; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.