Is 48137, 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, 48137 has remained a Seller's Market.
Housing Prices in 48137, MI
How much do homes in 48137, MI cost?
Median Sold Price
$310,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48137 was $310,000 in March 2024, up 14.8% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $169K | N/A |
2 Bedrooms | $189K | $209K | +10.6% |
3 Bedrooms | $270K | $316K | +17.0% |
4 Bedrooms | $477.5K | $477.5K | 0.0% |
5+ Bedrooms | $378K | $455K | +20.4% |
Summary: 48137 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 10.6%, 3 bedroom homes increased by 17%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 20.4%.
Housing Supply in 48137, MI
How many homes are available in 48137, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 16 | +33.3% |
Summary: The 48137 real estate market had 16 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 7 | 7 | 0.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48137 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in 48137 in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 48137, MI
How long does it take to sell a home in 48137, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
181 Days | 69 Days | -61.5% |
Summary: Homes in 48137 had an average of 69 days on market in Mar 2024, down by 61.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in 48137; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.