Is 48126, 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, 48126 has remained a Seller's Market.
Housing Prices in 48126, MI
How much do homes in 48126, MI cost?
Median Sold Price
$240,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48126 was $240,000 in March 2024, up 9.1% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $155K | $162K | +4.5% |
3 Bedrooms | $210K | $223.5K | +6.4% |
4 Bedrooms | $265K | $278K | +4.9% |
5+ Bedrooms | $325K | $284.2K | -12.5% |
Summary: 48126 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 4.5%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 12.5%.
Housing Supply in 48126, MI
How many homes are available in 48126, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 70 | +11.1% |
Summary: The 48126 real estate market had 70 homes for sale in March 2024, a 11.1% increase 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 | 6 | 8 | +33.3% |
3 Bedrooms | 24 | 31 | +29.2% |
4 Bedrooms | 24 | 23 | -4.2% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The 48126 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 33.3%, 3 bedroom homes increased by 29.2%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 16 | +6.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 48126 in March 2024, up by 6.7% month-over-month. Of the 16 sold homes, 38% were sold under asking, 6% were sold at asking, and 56% were sold over asking.
Days on Market for 48126, MI
How long does it take to sell a home in 48126, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
95 Days | 27 Days | -71.4% |
Summary: Homes in 48126 had an average of 27 days on market in Mar 2024, down by 71.4% compared to last year.
Breakdown of Home Sale Times
10 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, 16 homes were sold in 48126; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.