Is 48141, 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, 48141 has remained a Seller's Market.
Key Takeaway
48141 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48141, MI
How much do homes in 48141, MI cost?
Median Sold Price
$100,500
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48141 have sold for 16.9% more than they did a year ago.
Summary: The median home sold price in 48141 was $100,500 in March 2024, up 16.9% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $58K | $64.5K | +11.2% |
| 3 Bedrooms | $100K | $110K | +10.0% |
| 4 Bedrooms | $92.4K | $100.3K | +8.5% |
| 5+ Bedrooms | $126.2K | $125K | -1.0% |
Summary: 48141 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 11.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 1%.
Housing Supply in 48141, MI
How many homes are available in 48141, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 61 | +1.7% |
Summary: The 48141 real estate market had 61 homes for sale in March 2024, a 1.7% 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 | 15 | 10 | -33.3% |
| 3 Bedrooms | 32 | 38 | +18.8% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 48141 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 decreased by 33.3%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Asking Price vs. Sold Price
6 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 48141, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48141 in March 2024, down by 23.5% month-over-month. Of the 13 sold homes, 46% were sold under asking, 8% were sold at asking, and 46% were sold over asking.
Days on Market for 48141, MI
How long does it take to sell a home in 48141, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 172 Days | 33 Days | -80.6% |
Summary: Homes in 48141 had an average of 33 days on market in Mar 2024, down by 80.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48141 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 13 homes were sold in 48141; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
