Is 48184, 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, 48184 has remained a Seller's Market.
Key Takeaway
48184 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48184, MI
How much do homes in 48184, MI cost?
Median Sold Price
$161,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48184 have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in 48184 was $161,000 in March 2024, up 9.8% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $110.5K | $130K | +17.6% |
| 3 Bedrooms | $148K | $165K | +11.5% |
| 4 Bedrooms | $203.5K | $224K | +10.1% |
| 5+ Bedrooms | $210K | $260K | +23.8% |
Summary: 48184 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 17.6%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 23.8%.
Housing Supply in 48184, MI
How many homes are available in 48184, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 33 | -15.4% |
Summary: The 48184 real estate market had 33 homes for sale in March 2024, a 15.4% 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 | 7 | 3 | -57.1% |
| 3 Bedrooms | 25 | 23 | -8.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48184 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 57.1%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48184, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 48184 in March 2024, down by 23.1% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for 48184, MI
How long does it take to sell a home in 48184, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 109 Days | 39 Days | -64.1% |
Summary: Homes in 48184 had an average of 39 days on market in Mar 2024, down by 64.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48184 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in 48184; 70% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.