Is 48152, 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, 48152 has remained a Seller's Market.
Key Takeaway
48152 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48152, MI
How much do homes in 48152, MI cost?
Median Sold Price
$274,933
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48152 have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in 48152 was $274,933 in March 2024, up 5.7% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $112.2K | +12.3% |
| 2 Bedrooms | $177.2K | $210K | +18.5% |
| 3 Bedrooms | $255K | $269.9K | +5.8% |
| 4 Bedrooms | $385K | $408K | +6.0% |
| 5+ Bedrooms | $460K | $440K | -4.3% |
Summary: 48152 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 4.3%.
Housing Supply in 48152, MI
How many homes are available in 48152, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 59 | -10.6% |
Summary: The 48152 real estate market had 59 homes for sale in March 2024, a 10.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 16 | 10 | -37.5% |
| 3 Bedrooms | 37 | 32 | -13.5% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48152 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 13.5%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 25 | -3.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48152, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 48152 in March 2024, down by 3.8% month-over-month. Of the 25 sold homes, 40% were sold under asking, 28% were sold at asking, and 32% were sold over asking.
Days on Market for 48152, MI
How long does it take to sell a home in 48152, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 76 Days | 13 Days | -81.7% |
Summary: Homes in 48152 had an average of 13 days on market in Mar 2024, down by 81.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48152 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 48152; 96% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
