Is 48157, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48157 was a Neutral Market.
Key Takeaway
48157 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48157, MI
How much do homes in 48157, MI cost?
Median Sold Price
$162,500
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48157 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 48157 was $162,500 in April 2024, up 4.8% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $149.9K | $162.5K | +8.4% |
| 3 Bedrooms | $185K | $220K | +18.9% |
| 4 Bedrooms | $275K | $168K | -38.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48157 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 18.9%, 4 bedroom homes decreased by 38.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48145 | $183.7K | $256K | +39.3% |
| 48157 | $155K | $162.5K | +4.8% |
Housing Supply in 48157, MI
How many homes are available in 48157, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The 48157 real estate market had 5 homes for sale in April 2024, a 16.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48157 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48157, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48157 in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48157, MI
How long does it take to sell a home in 48157, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48157 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 48157; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
