Is 48230, 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, 48230 has remained a Seller's Market.
Housing Prices in 48230, MI
How much do homes in 48230, MI cost?
Median Sold Price
$425,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48230 was $425,000 in March 2024, up 17.6% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79K | - | N/A |
2 Bedrooms | $278.7K | $210K | -24.7% |
3 Bedrooms | $342K | $365K | +6.7% |
4 Bedrooms | $417K | $490K | +17.5% |
5+ Bedrooms | $601K | $550K | -8.5% |
Summary: 48230 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 24.7%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes decreased by 8.5%.
Housing Supply in 48230, MI
How many homes are available in 48230, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 33 | +26.9% |
Summary: The 48230 real estate market had 33 homes for sale in March 2024, a 26.9% 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 | 3 | 3 | 0.0% |
3 Bedrooms | 5 | 10 | +100.0% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The 48230 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 8 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 48230 in March 2024, up by 33.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for 48230, MI
How long does it take to sell a home in 48230, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
82 Days | 41 Days | -50.1% |
Summary: Homes in 48230 had an average of 41 days on market in Mar 2024, down by 50.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in 48230; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.