Is 48134, 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, 48134 has remained a Seller's Market.
Housing Prices in 48134, MI
How much do homes in 48134, MI cost?
Median Sold Price
$311,450
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48134 was $311,450 in March 2024, up 0.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $233.2K | $240K | +2.9% |
3 Bedrooms | $288.5K | $280K | -2.9% |
4 Bedrooms | $383K | $362.5K | -5.4% |
5+ Bedrooms | $345K | $345K | 0.0% |
Summary: 48134 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 2.9%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes did not change.
Housing Supply in 48134, MI
How many homes are available in 48134, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 50 | +11.1% |
Summary: The 48134 real estate market had 50 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 | 11 | 13 | +18.2% |
3 Bedrooms | 20 | 22 | +10.0% |
4 Bedrooms | 13 | 15 | +15.4% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48134 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 18.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 16 | +77.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 48134 in March 2024, up by 77.8% month-over-month. Of the 16 sold homes, 56% were sold under asking, 25% were sold at asking, and 19% were sold over asking.
Days on Market for 48134, MI
How long does it take to sell a home in 48134, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
58 Days | 18 Days | -68.0% |
Summary: Homes in 48134 had an average of 18 days on market in Mar 2024, down by 68% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in 48134; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.