Is 48135, 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, 48135 has remained a Seller's Market.
Housing Prices in 48135, MI
How much do homes in 48135, MI cost?
Median Sold Price
$190,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48135 was $190,000 in March 2024, up 7.5% 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 | $135K | $145K | +7.4% |
3 Bedrooms | $180K | $192K | +6.7% |
4 Bedrooms | $207K | $215K | +3.9% |
5+ Bedrooms | $179K | $245K | +36.9% |
Summary: 48135 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 7.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 36.9%.
Housing Supply in 48135, MI
How many homes are available in 48135, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
75 | 74 | -1.3% |
Summary: The 48135 real estate market had 74 homes for sale in March 2024, a 1.3% 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 | 7 | 10 | +42.9% |
3 Bedrooms | 52 | 51 | -1.9% |
4 Bedrooms | 12 | 11 | -8.3% |
5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 48135 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 42.9%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 36 | +44.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in 48135 in March 2024, up by 44.0% month-over-month. Of the 36 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for 48135, MI
How long does it take to sell a home in 48135, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
92 Days | 18 Days | -79.8% |
Summary: Homes in 48135 had an average of 18 days on market in Mar 2024, down by 79.8% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 36 homes were sold in 48135; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.