Is 48193, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48193 has remained a Seller's Market.
Key Takeaway
48193 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48193, MI
How much do homes in 48193, MI cost?
Median Sold Price
$200,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48193 have sold for 2% less than they did a year ago.
Summary: The median home sold price in 48193 was $200,000 in April 2024, down 2% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $190.7K | +9.0% |
| 3 Bedrooms | $200K | $192.5K | -3.8% |
| 4 Bedrooms | $289.9K | $290K | 0.0% |
| 5+ Bedrooms | $264.9K | $388.2K | +46.5% |
Summary: 48193 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 9%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 46.5%.
Housing Supply in 48193, MI
How many homes are available in 48193, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 27 | +3.8% |
Summary: The 48193 real estate market had 27 homes for sale in April 2024, a 3.8% 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48193 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 increased by 40%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48193, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 48193 in April 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for 48193, MI
How long does it take to sell a home in 48193, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 14 Days | -63.7% |
Summary: Homes in 48193 had an average of 14 days on market in Apr 2024, down by 63.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48193 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 48193; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
