Is 48315, 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, 48315 has remained a Seller's Market.
Housing Prices in 48315, MI
How much do homes in 48315, MI cost?
Median Sold Price
$442,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48315 was $442,000 in March 2024, up 2.8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $235K | $250K | +6.4% |
3 Bedrooms | $415K | $435K | +4.8% |
4 Bedrooms | $542.7K | $600K | +10.5% |
5+ Bedrooms | $676K | $655.4K | -3.0% |
Summary: 48315 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 4.8%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 3%.
Housing Supply in 48315, MI
How many homes are available in 48315, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 63 | +28.6% |
Summary: The 48315 real estate market had 63 homes for sale in March 2024, a 28.6% 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 | 15 | 21 | +40.0% |
3 Bedrooms | 16 | 21 | +31.3% |
4 Bedrooms | 15 | 18 | +20.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48315 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 40%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 14 | +55.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48315 in March 2024, up by 55.6% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for 48315, MI
How long does it take to sell a home in 48315, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 40 Days | +150.0% |
Summary: Homes in 48315 had an average of 40 days on market in Mar 2024, up by 150% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 48315; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.