Is 48169, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48169 has remained a Seller's Market.
Key Takeaway
48169 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48169, MI
How much do homes in 48169, MI cost?
Median Sold Price
$375,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48169 have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in 48169 was $375,000 in April 2024, up 7.7% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $211.5K | -15.4% |
| 2 Bedrooms | $245K | $357.5K | +45.9% |
| 3 Bedrooms | $322.5K | $346.5K | +7.4% |
| 4 Bedrooms | $430K | $418K | -2.8% |
| 5+ Bedrooms | $489.9K | $515K | +5.1% |
Summary: 48169 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.4%, 2 bedroom homes increased by 45.9%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 5.1%.
Housing Supply in 48169, MI
How many homes are available in 48169, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 71 | +20.3% |
Summary: The 48169 real estate market had 71 homes for sale in April 2024, a 20.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 8 | 15 | +87.5% |
| 3 Bedrooms | 23 | 28 | +21.7% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The 48169 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 87.5%, 3 bedroom homes increased by 21.7%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48169, you could pay more than the asking price. 76.9% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 48169 in April 2024, down by 27.8% month-over-month. Of the 13 sold homes, 8% were sold under asking, 15% were sold at asking, and 77% were sold over asking.
Days on Market for 48169, MI
How long does it take to sell a home in 48169, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 85 Days | 11 Days | -86.3% |
Summary: Homes in 48169 had an average of 11 days on market in Apr 2024, down by 86.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48169 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in 48169; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
