Is 48301, 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, 48301 has remained a Seller's Market.
Housing Prices in 48301, MI
How much do homes in 48301, MI cost?
Median Sold Price
$679,500
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48301 was $679,500 in March 2024, up 9.6% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $149.9K | N/A |
2 Bedrooms | $245K | $253.5K | +3.5% |
3 Bedrooms | $493.5K | $556.7K | +12.8% |
4 Bedrooms | $678.5K | $756K | +11.4% |
5+ Bedrooms | $1.1M | $1.0M | -5.2% |
Summary: 48301 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 3.5%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 5.2%.
Housing Supply in 48301, MI
How many homes are available in 48301, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 48 | +29.7% |
Summary: The 48301 real estate market had 48 homes for sale in March 2024, a 29.7% 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 | 10 | 11 | +10.0% |
4 Bedrooms | 14 | 24 | +71.4% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 48301 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 10%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 20 | +150.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 48301 in March 2024, up by 150.0% month-over-month. Of the 20 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% were sold over asking.
Days on Market for 48301, MI
How long does it take to sell a home in 48301, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
147 Days | 18 Days | -87.5% |
Summary: Homes in 48301 had an average of 18 days on market in Mar 2024, down by 87.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 48301; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.