Is 48214, 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, 48214 was a Seller's Market.
Housing Prices in 48214, MI
How much do homes in 48214, MI cost?
Median Sold Price
$95,500
$77/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48214 was $95,500 in March 2024, down 35.3% from last year, and the median price per square foot was $77.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $68.5K | $44.7K | -34.7% |
2 Bedrooms | $158K | $129.4K | -18.1% |
3 Bedrooms | $87.4K | $56.1K | -35.9% |
4 Bedrooms | $175K | $84.9K | -51.5% |
5+ Bedrooms | $460K | $396K | -13.9% |
Summary: 48214 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.7%, 2 bedroom homes decreased by 18.1%, 3 bedroom homes decreased by 35.9%, 4 bedroom homes decreased by 51.5%, and 5+ bedroom homes decreased by 13.9%.
Housing Supply in 48214, MI
How many homes are available in 48214, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
107 | 110 | +2.8% |
Summary: The 48214 real estate market had 110 homes for sale in March 2024, a 2.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 14 | +27.3% |
2 Bedrooms | 16 | 16 | 0.0% |
3 Bedrooms | 42 | 42 | 0.0% |
4 Bedrooms | 25 | 23 | -8.0% |
5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The 48214 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 18 | +100.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 48214 in March 2024, up by 100.0% month-over-month. Of the 18 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for 48214, MI
How long does it take to sell a home in 48214, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
134 Days | 59 Days | -55.6% |
Summary: Homes in 48214 had an average of 59 days on market in Mar 2024, down by 55.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 48214; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.