Is 48312, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48312 has remained a Seller's Market.
Housing Prices in 48312, MI
How much do homes in 48312, MI cost?
Median Sold Price
$285,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48312 was $285,000 in April 2024, up 5.6% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85K | $90.9K | +6.9% |
2 Bedrooms | $160K | $184K | +15.0% |
3 Bedrooms | $270K | $285K | +5.6% |
4 Bedrooms | $325K | $331K | +1.8% |
5+ Bedrooms | $371.5K | $459.7K | +23.8% |
Summary: 48312 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 23.8%.
Housing Supply in 48312, MI
How many homes are available in 48312, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 74 | +8.8% |
Summary: The 48312 real estate market had 74 homes for sale in April 2024, a 8.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 16 | 17 | +6.3% |
3 Bedrooms | 35 | 36 | +2.9% |
4 Bedrooms | 14 | 18 | +28.6% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48312 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 28 | +27.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in 48312 in April 2024, up by 27.3% month-over-month. Of the 28 sold homes, 32% were sold under asking, 25% were sold at asking, and 43% were sold over asking.
Days on Market for 48312, MI
How long does it take to sell a home in 48312, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 17 Days | -2.8% |
Summary: Homes in 48312 had an average of 17 days on market in Apr 2024, down by 2.8% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in 48312; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.