Is 48191, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48191 was a Seller's Market.
Key Takeaway
48191 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48191, MI
How much do homes in 48191, MI cost?
Median Sold Price
$300,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48191 have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in 48191 was $300,000 in April 2024, up 3.3% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $283K | N/A |
| 2 Bedrooms | $166.5K | $228K | +36.9% |
| 3 Bedrooms | $305K | $297.5K | -2.5% |
| 4 Bedrooms | $341K | $478.8K | +40.4% |
| 5+ Bedrooms | $461K | $375K | -18.7% |
Summary: 48191 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 36.9%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 40.4%, and 5+ bedroom homes decreased by 18.7%.
Housing Supply in 48191, MI
How many homes are available in 48191, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The 48191 real estate market had 21 homes for sale in April 2024, a 10.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48191 housing inventory by bedroom type for April 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 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48191, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 48191 in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48191, MI
How long does it take to sell a home in 48191, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48191 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in 48191; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
