Is 48146, 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, 48146 has remained a Seller's Market.
Housing Prices in 48146, MI
How much do homes in 48146, MI cost?
Median Sold Price
$146,980
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48146 was $146,980 in March 2024, up 9% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.4K | $87.4K | +6.1% |
2 Bedrooms | $104.9K | $117.1K | +11.6% |
3 Bedrooms | $140K | $152.7K | +9.1% |
4 Bedrooms | $159.9K | $147.4K | -7.8% |
5+ Bedrooms | $133.5K | $152K | +13.9% |
Summary: 48146 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes increased by 13.9%.
Housing Supply in 48146, MI
How many homes are available in 48146, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
93 | 83 | -10.8% |
Summary: The 48146 real estate market had 83 homes for sale in March 2024, a 10.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 17 | 16 | -5.9% |
3 Bedrooms | 66 | 58 | -12.1% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48146 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 30 | -25.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in 48146 in March 2024, down by 25.0% month-over-month. Of the 30 sold homes, 57% were sold under asking, 17% were sold at asking, and 27% were sold over asking.
Days on Market for 48146, MI
How long does it take to sell a home in 48146, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 29 Days | -49.5% |
Summary: Homes in 48146 had an average of 29 days on market in Mar 2024, down by 49.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in 48146; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.