Is 48213, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48213 was a Neutral Market.
Key Takeaway
48213 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48213, MI
How much do homes in 48213, MI cost?
Median Sold Price
$36,000
$32/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 48213 have sold for 44.6% less than they did a month ago.
Summary: The median home sold price in 48213 was $36,000 in March 2024, down 44.6% from last month, and the median price per square foot was $32.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $55K | $11K | -80.0% |
| 3 Bedrooms | $70K | $46K | -34.3% |
| 4 Bedrooms | $66.7K | $31.7K | -52.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48213 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 80%, 3 bedroom homes decreased by 34.3%, 4 bedroom homes decreased by 52.4%, and 5+ bedroom homes did not change.
Housing Supply in 48213, MI
How many homes are available in 48213, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 75 | 88 | +17.3% |
Summary: The 48213 real estate market had 88 homes for sale in March 2024, a 17.3% 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 | 9 | 11 | +22.2% |
| 3 Bedrooms | 49 | 57 | +16.3% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48213 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 22.2%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48213, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48213 in March 2024, down by 16.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 0% were sold at asking, and 30% were sold over asking.
Days on Market for 48213, MI
How long does it take to sell a home in 48213, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 84 Days | +62.2% |
Summary: Homes in 48213 had an average of 84 days on market in Mar 2024, up by 62.2% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48213 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in 48213; 40% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% 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.
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.