Is 48212, 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, 48212 was a Seller's Market.
Key Takeaway
48212 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48212, MI
How much do homes in 48212, MI cost?
Median Sold Price
$145,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48212 have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in 48212 was $145,000 in March 2024, up 3.6% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $120K | N/A |
| 2 Bedrooms | $110K | $88.7K | -19.3% |
| 3 Bedrooms | $135K | $132.5K | -1.9% |
| 4 Bedrooms | $164K | $165K | +0.6% |
| 5+ Bedrooms | $159.5K | $214.2K | +34.3% |
Summary: 48212 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 decreased by 19.3%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 34.3%.
Housing Supply in 48212, MI
How many homes are available in 48212, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 74 | +19.4% |
Summary: The 48212 real estate market had 74 homes for sale in March 2024, a 19.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 30 | 35 | +16.7% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 48212 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 7 | -46.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48212, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 48212 in March 2024, down by 46.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for 48212, MI
How long does it take to sell a home in 48212, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 36 Days | +502.4% |
Summary: Homes in 48212 had an average of 36 days on market in Mar 2024, up by 502.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48212 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in 48212; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.