Is 48158, 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, 48158 has remained a Seller's Market.
Housing Prices in 48158, MI
How much do homes in 48158, MI cost?
Median Sold Price
$334,500
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48158 was $334,500 in March 2024, up 11.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $154.9K | $161K | +3.9% |
3 Bedrooms | $299.9K | $322.4K | +7.5% |
4 Bedrooms | $371K | $359.9K | -3.0% |
5+ Bedrooms | $455K | $362.5K | -20.3% |
Summary: 48158 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 20.3%.
Housing Supply in 48158, MI
How many homes are available in 48158, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 25 | +66.7% |
Summary: The 48158 real estate market had 25 homes for sale in March 2024, a 66.7% 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 | 3 | 6 | +100.0% |
3 Bedrooms | 5 | 8 | +60.0% |
4 Bedrooms | 5 | 9 | +80.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48158 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 100%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 48158 in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.
Days on Market for 48158, MI
How long does it take to sell a home in 48158, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
72 Days | 52 Days | -27.3% |
Summary: Homes in 48158 had an average of 52 days on market in Mar 2024, down by 27.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in 48158; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.