Is 48150, 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, 48150 has remained a Seller's Market.
Housing Prices in 48150, MI
How much do homes in 48150, MI cost?
Median Sold Price
$265,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48150 was $265,000 in March 2024, up 8.1% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112K | $135K | +20.5% |
2 Bedrooms | $169.9K | $210.5K | +23.9% |
3 Bedrooms | $245K | $265K | +8.2% |
4 Bedrooms | $305K | $320K | +4.9% |
5+ Bedrooms | $385K | $310K | -19.5% |
Summary: 48150 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.5%, 2 bedroom homes increased by 23.9%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 19.5%.
Housing Supply in 48150, MI
How many homes are available in 48150, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
59 | 67 | +13.6% |
Summary: The 48150 real estate market had 67 homes for sale in March 2024, a 13.6% 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 | 4 | 7 | +75.0% |
3 Bedrooms | 46 | 53 | +15.2% |
4 Bedrooms | 8 | 7 | -12.5% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48150 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 75%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 19 | -20.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 48150 in March 2024, down by 20.8% month-over-month. Of the 19 sold homes, 11% were sold under asking, 21% were sold at asking, and 68% were sold over asking.
Days on Market for 48150, MI
How long does it take to sell a home in 48150, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
69 Days | 7 Days | -88.9% |
Summary: Homes in 48150 had an average of 7 days on market in Mar 2024, down by 88.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in 48150; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.