Is 48235, 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, 48235 was a Seller's Market.
Housing Prices in 48235, MI
How much do homes in 48235, MI cost?
Median Sold Price
$89,280
$78/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48235 was $89,280 in March 2024, down 14.4% from last year, and the median price per square foot was $78.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $61.5K | $53.7K | -12.6% |
3 Bedrooms | $110K | $92.7K | -15.7% |
4 Bedrooms | $133K | $140K | +5.3% |
5+ Bedrooms | $147K | $140K | -4.8% |
Summary: 48235 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 12.6%, 3 bedroom homes decreased by 15.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 4.8%.
Housing Supply in 48235, MI
How many homes are available in 48235, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
219 | 235 | +7.3% |
Summary: The 48235 real estate market had 235 homes for sale in March 2024, a 7.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 33 | 31 | -6.1% |
3 Bedrooms | 162 | 180 | +11.1% |
4 Bedrooms | 21 | 19 | -9.5% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48235 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 | 30 | -34.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in 48235 in March 2024, down by 34.8% month-over-month. Of the 30 sold homes, 53% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for 48235, MI
How long does it take to sell a home in 48235, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
61 Days | 49 Days | -19.4% |
Summary: Homes in 48235 had an average of 49 days on market in Mar 2024, down by 19.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in 48235; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.