Is 48204, 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, 48204 has remained a Seller's Market.
Housing Prices in 48204, MI
How much do homes in 48204, MI cost?
Median Sold Price
$60,000
$50/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48204 was $60,000 in March 2024, up 29% from last year, and the median price per square foot was $50.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $22K | $41K | +86.4% |
3 Bedrooms | $55K | $62.5K | +13.6% |
4 Bedrooms | $58.7K | $95K | +61.7% |
5+ Bedrooms | $54.6K | $61K | +11.7% |
Summary: 48204 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 86.4%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 61.7%, and 5+ bedroom homes increased by 11.7%.
Housing Supply in 48204, MI
How many homes are available in 48204, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
73 | 88 | +20.5% |
Summary: The 48204 real estate market had 88 homes for sale in March 2024, a 20.5% 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 | 4 | 7 | +75.0% |
3 Bedrooms | 51 | 57 | +11.8% |
4 Bedrooms | 15 | 20 | +33.3% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 48204 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 increased by 75%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 16 | +33.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 48204 in March 2024, up by 33.3% month-over-month. Of the 16 sold homes, 63% were sold under asking, 19% were sold at asking, and 19% were sold over asking.
Days on Market for 48204, MI
How long does it take to sell a home in 48204, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
184 Days | 60 Days | -67.1% |
Summary: Homes in 48204 had an average of 60 days on market in Mar 2024, down by 67.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in 48204; 31% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.