Is 48237, 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, 48237 has remained a Seller's Market.
Key Takeaway
48237 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48237, MI
How much do homes in 48237, MI cost?
Median Sold Price
$215,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48237 have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in 48237 was $215,000 in March 2024, up 4.9% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $125.5K | $133.5K | +6.4% |
| 3 Bedrooms | $210.5K | $217.2K | +3.2% |
| 4 Bedrooms | $268.9K | $273.1K | +1.6% |
| 5+ Bedrooms | $312K | $266.7K | -14.5% |
Summary: 48237 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 increased by 6.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 14.5%.
Housing Supply in 48237, MI
How many homes are available in 48237, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 81 | 74 | -8.6% |
Summary: The 48237 real estate market had 74 homes for sale in March 2024, a 8.6% decrease 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 | 10 | 9 | -10.0% |
| 3 Bedrooms | 62 | 57 | -8.1% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48237 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 decreased by 10%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 30 | +76.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48237, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in 48237 in March 2024, up by 76.5% month-over-month. Of the 30 sold homes, 43% were sold under asking, 17% were sold at asking, and 40% were sold over asking.
Days on Market for 48237, MI
How long does it take to sell a home in 48237, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 131 Days | 31 Days | -76.4% |
Summary: Homes in 48237 had an average of 31 days on market in Mar 2024, down by 76.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48237 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 30 homes were sold in 48237; 83% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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.