Is 48165, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48165 was a Neutral Market.
Key Takeaway
48165 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48165, MI
How much do homes in 48165, MI cost?
Median Sold Price
$467,500
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48165 have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in 48165 was $467,500 in March 2024, up 10.8% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $48K | $54K | +12.5% |
| 2 Bedrooms | $235K | $458.8K | +95.2% |
| 3 Bedrooms | $420K | $417.5K | -0.6% |
| 4 Bedrooms | $452.5K | $540K | +19.3% |
| 5+ Bedrooms | $525K | $550K | +4.8% |
Summary: 48165 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 95.2%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 4.8%.
Housing Supply in 48165, MI
How many homes are available in 48165, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The 48165 real estate market had 18 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48165 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48165, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48165 in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48165, MI
How long does it take to sell a home in 48165, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 297 Days | 51 Days | -82.7% |
Summary: Homes in 48165 had an average of 51 days on market in Mar 2024, down by 82.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48165 has remained consistent over time.
Summary: During March 2024, 4 homes were sold in 48165; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
