Is 48128, 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, 48128 has remained a Seller's Market.
Housing Prices in 48128, MI
How much do homes in 48128, MI cost?
Median Sold Price
$272,500
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48128 was $272,500 in March 2024, up 6.2% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $185K | $263.2K | +42.3% |
3 Bedrooms | $253.5K | $265K | +4.5% |
4 Bedrooms | $297.5K | $345K | +16.0% |
5+ Bedrooms | $300K | $300K | 0.0% |
Summary: 48128 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 42.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 16%, and 5+ bedroom homes did not change.
Housing Supply in 48128, MI
How many homes are available in 48128, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 29 | -3.3% |
Summary: The 48128 real estate market had 29 homes for sale in March 2024, a 3.3% 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 | 3 | 3 | 0.0% |
3 Bedrooms | 22 | 18 | -18.2% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48128 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 18.2%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 11 | -15.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 48128 in March 2024, down by 15.4% month-over-month. Of the 11 sold homes, 36% were sold under asking, 0% were sold at asking, and 64% were sold over asking.
Days on Market for 48128, MI
How long does it take to sell a home in 48128, MI?
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 48128; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.