Is 48313, 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, 48313 has remained a Seller's Market.
Housing Prices in 48313, MI
How much do homes in 48313, MI cost?
Median Sold Price
$265,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48313 was $265,000 in March 2024, down 0.3% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99K | $102K | +3.0% |
2 Bedrooms | $200K | $172.5K | -13.8% |
3 Bedrooms | $269K | $278K | +3.3% |
4 Bedrooms | $330K | $327K | -0.9% |
5+ Bedrooms | $405K | $395K | -2.5% |
Summary: 48313 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3%, 2 bedroom homes decreased by 13.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes decreased by 2.5%.
Housing Supply in 48313, MI
How many homes are available in 48313, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 52 | +10.6% |
Summary: The 48313 real estate market had 52 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 10 | -16.7% |
3 Bedrooms | 26 | 32 | +23.1% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48313 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 16.7%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 27 | +145.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 48313 in March 2024, up by 145.5% month-over-month. Of the 27 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market for 48313, MI
How long does it take to sell a home in 48313, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
90 Days | 25 Days | -72.3% |
Summary: Homes in 48313 had an average of 25 days on market in Mar 2024, down by 72.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in 48313; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.