Is 48164, 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, 48164 has remained a Seller's Market.
Key Takeaway
48164 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48164, MI
How much do homes in 48164, MI cost?
Median Sold Price
$350,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48164 have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in 48164 was $350,000 in March 2024, up 16.7% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.5K | - | N/A |
| 2 Bedrooms | $222.5K | $218.5K | -1.8% |
| 3 Bedrooms | $270.5K | $328.5K | +21.4% |
| 4 Bedrooms | $406.5K | $387.8K | -4.6% |
| 5+ Bedrooms | $562.5K | $565K | 0.4% |
Summary: 48164 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 decreased by 1.8%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 0.4%.
Housing Supply in 48164, MI
How many homes are available in 48164, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The 48164 real estate market had 20 homes for sale in March 2024, a 5.3% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48164 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 decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48164, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 48164 in March 2024, up by 66.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for 48164, MI
How long does it take to sell a home in 48164, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 79 Days | 33 Days | -57.2% |
Summary: Homes in 48164 had an average of 33 days on market in Mar 2024, down by 57.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48164 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in 48164; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.