Is 48192, 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, 48192 has remained a Seller's Market.
Housing Prices in 48192, MI
How much do homes in 48192, MI cost?
Median Sold Price
$181,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48192 was $181,000 in March 2024, up 6.5% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $96K | $100K | +4.2% |
2 Bedrooms | $144.9K | $146K | +0.8% |
3 Bedrooms | $170.5K | $190K | +11.4% |
4 Bedrooms | $203K | $203.5K | 0.2% |
5+ Bedrooms | $255K | $197.9K | -22.4% |
Summary: 48192 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 22.4%.
Housing Supply in 48192, MI
How many homes are available in 48192, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 62 | -1.6% |
Summary: The 48192 real estate market had 62 homes for sale in March 2024, a 1.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 19 | 19 | 0.0% |
3 Bedrooms | 32 | 29 | -9.4% |
4 Bedrooms | 8 | 11 | +37.5% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48192 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 remained the same, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 16 | -23.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 48192 in March 2024, down by 23.8% month-over-month. Of the 16 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for 48192, MI
How long does it take to sell a home in 48192, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
103 Days | 28 Days | -72.6% |
Summary: Homes in 48192 had an average of 28 days on market in Mar 2024, down by 72.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in 48192; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.