Is 48185, 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, 48185 has remained a Seller's Market.
Housing Prices in 48185, MI
How much do homes in 48185, MI cost?
Median Sold Price
$215,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48185 was $215,000 in March 2024, up 4.9% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75.5K | $81.5K | +7.9% |
2 Bedrooms | $165K | $144.1K | -12.6% |
3 Bedrooms | $212.7K | $226K | +6.2% |
4 Bedrooms | $315K | $341K | +8.3% |
5+ Bedrooms | $325K | $382.5K | +17.7% |
Summary: 48185 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes decreased by 12.6%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 17.7%.
Housing Supply in 48185, MI
How many homes are available in 48185, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
78 | 88 | +12.8% |
Summary: The 48185 real estate market had 88 homes for sale in March 2024, a 12.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 19 | 16 | -15.8% |
3 Bedrooms | 46 | 54 | +17.4% |
4 Bedrooms | 10 | 14 | +40.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48185 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 15.8%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 29 | +81.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 48185 in March 2024, up by 81.3% month-over-month. Of the 29 sold homes, 28% were sold under asking, 14% were sold at asking, and 59% were sold over asking.
Days on Market for 48185, MI
How long does it take to sell a home in 48185, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 14 Days | -74.4% |
Summary: Homes in 48185 had an average of 14 days on market in Mar 2024, down by 74.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in 48185; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.