Is 48226, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48226 was a Neutral Market.
Housing Prices in 48226, MI
How much do homes in 48226, MI cost?
Median Sold Price
$355,000
$310/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48226 was $355,000 in April 2024, down 0.7% from last year, and the median price per square foot was $310.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $234.5K | +4.2% |
2 Bedrooms | $375K | $397K | +5.9% |
3 Bedrooms | $738.2K | $612.5K | -17.0% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: 48226 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 17%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48226, MI
How many homes are available in 48226, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 28 | +16.7% |
Summary: The 48226 real estate market had 28 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 12 | +33.3% |
2 Bedrooms | 9 | 8 | -11.1% |
3 Bedrooms | 5 | 7 | +40.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48226 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
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 48226 in April 2024, up by 33.3% 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 48226, MI
How long does it take to sell a home in 48226, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
259 Days | 48 Days | -81.2% |
Summary: Homes in 48226 had an average of 48 days on market in Apr 2024, down by 81.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in 48226; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.