Is 48176, 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, 48176 has remained a Seller's Market.
Key Takeaway
48176 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48176, MI
How much do homes in 48176, MI cost?
Median Sold Price
$413,037
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48176 have sold for 7.4% less than they did a year ago.
Summary: The median home sold price in 48176 was $413,037 in March 2024, down 7.4% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $265K | $273.1K | +3.1% |
| 3 Bedrooms | $372.5K | $379.9K | +2.0% |
| 4 Bedrooms | $537K | $531.4K | -1.1% |
| 5+ Bedrooms | $591.6K | $654.9K | +10.7% |
Summary: 48176 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 increased by 3.1%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 10.7%.
Housing Supply in 48176, MI
How many homes are available in 48176, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 118 | 116 | -1.7% |
Summary: The 48176 real estate market had 116 homes for sale in March 2024, a 1.7% decrease 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 | 20 | 17 | -15.0% |
| 3 Bedrooms | 47 | 50 | +6.4% |
| 4 Bedrooms | 39 | 37 | -5.1% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The 48176 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 15%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 23 | +15.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48176, you could pay more than the asking price. 43.5% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 48176 in March 2024, up by 15.0% month-over-month. Of the 23 sold homes, 17% were sold under asking, 39% were sold at asking, and 43% were sold over asking.
Days on Market for 48176, MI
How long does it take to sell a home in 48176, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 102 Days | 168 Days | +65.1% |
Summary: Homes in 48176 had an average of 168 days on market in Mar 2024, up by 65.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48176 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 23 homes were sold in 48176; 43% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
