Is 48140, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48140 was a Buyer's Market.
Key Takeaway
48140 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48140, MI
How much do homes in 48140, MI cost?
Median Sold Price
$256,125
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48140 have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in 48140 was $256,125 in March 2024, up 12.3% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $198K | $139.5K | -29.5% |
| 3 Bedrooms | $225K | $262.5K | +16.7% |
| 4 Bedrooms | $360K | $277.4K | -22.9% |
| 5+ Bedrooms | $116.9K | - | N/A |
Summary: 48140 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 decreased by 29.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes did not change.
Housing Supply in 48140, MI
How many homes are available in 48140, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Summary: The 48140 real estate market had 6 homes for sale in March 2024, a 20.0% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48140 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 remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48140, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in 48140 in March 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 48140, MI
How long does it take to sell a home in 48140, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48140 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in 48140; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
