Is 48186, 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, 48186 has remained a Seller's Market.
Housing Prices in 48186, MI
How much do homes in 48186, MI cost?
Median Sold Price
$195,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48186 was $195,000 in March 2024, up 10.9% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105K | $103K | -1.8% |
2 Bedrooms | $100.3K | $110K | +9.7% |
3 Bedrooms | $180K | $195K | +8.3% |
4 Bedrooms | $212.5K | $250K | +17.6% |
5+ Bedrooms | $224K | $200K | -10.7% |
Summary: 48186 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes decreased by 10.7%.
Housing Supply in 48186, MI
How many homes are available in 48186, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 69 | -6.8% |
Summary: The 48186 real estate market had 69 homes for sale in March 2024, a 6.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 7 | 11 | +57.1% |
3 Bedrooms | 61 | 53 | -13.1% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48186 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 57.1%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 22 | -4.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in 48186 in March 2024, down by 4.3% month-over-month. Of the 22 sold homes, 18% were sold under asking, 9% were sold at asking, and 73% were sold over asking.
Days on Market for 48186, MI
How long does it take to sell a home in 48186, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 27 Days | -11.0% |
Summary: Homes in 48186 had an average of 27 days on market in Mar 2024, down by 11% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 22 homes were sold in 48186; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.