Is 48170, 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, 48170 has remained a Seller's Market.
Housing Prices in 48170, MI
How much do homes in 48170, MI cost?
Median Sold Price
$439,026
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48170 was $439,026 in March 2024, up 8.5% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117.5K | $160K | +36.2% |
2 Bedrooms | $260.5K | $264K | +1.3% |
3 Bedrooms | $376.2K | $435K | +15.6% |
4 Bedrooms | $535K | $570K | +6.5% |
5+ Bedrooms | $637K | $820K | +28.7% |
Summary: 48170 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.2%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 28.7%.
Housing Supply in 48170, MI
How many homes are available in 48170, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
100 | 107 | +7.0% |
Summary: The 48170 real estate market had 107 homes for sale in March 2024, a 7.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 3 | -40.0% |
2 Bedrooms | 20 | 18 | -10.0% |
3 Bedrooms | 39 | 42 | +7.7% |
4 Bedrooms | 36 | 39 | +8.3% |
5+ Bedrooms | 0 | 5 | +100.0% |
Summary: The 48170 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 28 | -6.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in 48170 in March 2024, down by 6.7% month-over-month. Of the 28 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.
Days on Market for 48170, MI
How long does it take to sell a home in 48170, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 9 Days | -67.0% |
Summary: Homes in 48170 had an average of 9 days on market in Mar 2024, down by 67% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 28 homes were sold in 48170; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.