Is 48309, 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, 48309 has remained a Seller's Market.
Housing Prices in 48309, MI
How much do homes in 48309, MI cost?
Median Sold Price
$422,500
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48309 was $422,500 in March 2024, up 0.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $225K | $227.4K | +1.1% |
3 Bedrooms | $355K | $355K | 0.0% |
4 Bedrooms | $475K | $510K | +7.4% |
5+ Bedrooms | $669.5K | $515K | -23.1% |
Summary: 48309 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 1.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 23.1%.
Housing Supply in 48309, MI
How many homes are available in 48309, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
52 | 75 | +44.2% |
Summary: The 48309 real estate market had 75 homes for sale in March 2024, a 44.2% 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 | 10 | 13 | +30.0% |
3 Bedrooms | 21 | 35 | +66.7% |
4 Bedrooms | 19 | 24 | +26.3% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48309 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 increased by 30%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 23 | +76.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 48309 in March 2024, up by 76.9% month-over-month. Of the 23 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for 48309, MI
How long does it take to sell a home in 48309, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
155 Days | 32 Days | -79.4% |
Summary: Homes in 48309 had an average of 32 days on market in Mar 2024, down by 79.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in 48309; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.