Is 48174, 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, 48174 has remained a Seller's Market.
Housing Prices in 48174, MI
How much do homes in 48174, MI cost?
Median Sold Price
$195,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48174 was $195,000 in March 2024, up 11.2% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $15K | $125K | +733.3% |
2 Bedrooms | $150K | $159K | +6.0% |
3 Bedrooms | $169K | $181.7K | +7.5% |
4 Bedrooms | $292K | $316K | +8.2% |
5+ Bedrooms | $343K | $418K | +21.9% |
Summary: 48174 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 733.3%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 21.9%.
Housing Supply in 48174, MI
How many homes are available in 48174, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
60 | 67 | +11.7% |
Summary: The 48174 real estate market had 67 homes for sale in March 2024, a 11.7% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 34 | 43 | +26.5% |
4 Bedrooms | 17 | 16 | -5.9% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48174 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 increased by 26.5%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 20 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 48174 in March 2024, up by 33.3% month-over-month. Of the 20 sold homes, 20% were sold under asking, 15% were sold at asking, and 65% were sold over asking.
Days on Market for 48174, MI
How long does it take to sell a home in 48174, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
50 Days | 23 Days | -54.0% |
Summary: Homes in 48174 had an average of 23 days on market in Mar 2024, down by 54% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 48174; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.