Is 48130, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48130 has remained a Seller's Market.
Key Takeaway
48130 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48130, MI
How much do homes in 48130, MI cost?
Median Sold Price
$515,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48130 have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in 48130 was $515,000 in April 2024, up 12.3% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $347K | $349.5K | +0.7% |
| 2 Bedrooms | $335K | $311.9K | -6.9% |
| 3 Bedrooms | $390.7K | $435.7K | +11.5% |
| 4 Bedrooms | $513.2K | $550K | +7.2% |
| 5+ Bedrooms | $725K | $625K | -13.8% |
Summary: 48130 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 13.8%.
Housing Supply in 48130, MI
How many homes are available in 48130, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 62 | +29.2% |
Summary: The 48130 real estate market had 62 homes for sale in April 2024, a 29.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 21 | 24 | +14.3% |
| 4 Bedrooms | 23 | 31 | +34.8% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 48130 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48130, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 48130 in April 2024, up by 22.2% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for 48130, MI
How long does it take to sell a home in 48130, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 36 Days | +48.2% |
Summary: Homes in 48130 had an average of 36 days on market in Apr 2024, up by 48.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48130 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in 48130; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
