Is 48203, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48203 was a Seller's Market.
Housing Prices in 48203, MI
How much do homes in 48203, MI cost?
Median Sold Price
$52,500
$44/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48203 was $52,500 in March 2024, up 3.1% from last year, and the median price per square foot was $44.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $22K | - | N/A |
2 Bedrooms | $42K | $42.5K | +1.2% |
3 Bedrooms | $48K | $47.5K | -1.0% |
4 Bedrooms | $70K | $55K | -21.4% |
5+ Bedrooms | $571.2K | $575K | +0.7% |
Summary: 48203 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 0.7%.
Housing Supply in 48203, MI
How many homes are available in 48203, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
81 | 85 | +4.9% |
Summary: The 48203 real estate market had 85 homes for sale in March 2024, a 4.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 44 | 49 | +11.4% |
4 Bedrooms | 17 | 17 | 0.0% |
5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The 48203 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 decreased by 28.6%, 3 bedroom homes increased by 11.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 4 | -71.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in 48203 in March 2024, down by 71.4% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 48203, MI
How long does it take to sell a home in 48203, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
134 Days | 53 Days | -59.9% |
Summary: Homes in 48203 had an average of 53 days on market in Mar 2024, down by 59.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in 48203; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.