Is 48201, 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, 48201 has remained a Buyer's Market.
Key Takeaway
48201 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48201, MI
How much do homes in 48201, MI cost?
Median Sold Price
$441,250
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48201 have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in 48201 was $441,250 in April 2024, down 3.3% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $329.9K | $313.5K | -5.0% |
| 2 Bedrooms | $462.5K | $495K | +7.0% |
| 3 Bedrooms | $835K | $757K | -9.3% |
| 4 Bedrooms | $605K | $401K | -33.7% |
| 5+ Bedrooms | $250K | $587.5K | +135.0% |
Summary: 48201 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5%, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 33.7%, and 5+ bedroom homes increased by 135%.
Housing Supply in 48201, MI
How many homes are available in 48201, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 52 | 0.0% |
Summary: The 48201 real estate market had 52 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 12 | +33.3% |
| 2 Bedrooms | 26 | 25 | -3.8% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48201 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48201, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 48201 in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for 48201, MI
How long does it take to sell a home in 48201, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48201 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 48201; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.