Is 48154, 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, 48154 has remained a Seller's Market.
Housing Prices in 48154, MI
How much do homes in 48154, MI cost?
Median Sold Price
$315,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48154 was $315,000 in March 2024, up 8.6% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $91.7K | $97K | +5.7% |
2 Bedrooms | $210K | $201.5K | -4.0% |
3 Bedrooms | $282K | $296.5K | +5.1% |
4 Bedrooms | $335K | $375K | +11.9% |
5+ Bedrooms | $372K | $390K | +4.8% |
Summary: 48154 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 4.8%.
Housing Supply in 48154, MI
How many homes are available in 48154, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
68 | 73 | +7.4% |
Summary: The 48154 real estate market had 73 homes for sale in March 2024, a 7.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 4 | 7 | +75.0% |
3 Bedrooms | 38 | 42 | +10.5% |
4 Bedrooms | 24 | 21 | -12.5% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48154 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 10.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 21 | +5.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in 48154 in March 2024, up by 5.0% month-over-month. Of the 21 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 48154, MI
How long does it take to sell a home in 48154, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
23 Days | 20 Days | -12.0% |
Summary: Homes in 48154 had an average of 20 days on market in Mar 2024, down by 12% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in 48154; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.