Is 48320, 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, 48320 has remained a Seller's Market.
Housing Prices in 48320, MI
How much do homes in 48320, MI cost?
Median Sold Price
$256,250
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48320 was $256,250 in March 2024, down 3.3% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $123.9K | $159.9K | +29.0% |
2 Bedrooms | $172K | $167.5K | -2.6% |
3 Bedrooms | $275K | $275K | 0.0% |
4 Bedrooms | $311K | $390K | +25.4% |
5+ Bedrooms | $415K | $2.4M | +485.2% |
Summary: 48320 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes did not change, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes increased by 485.2%.
Housing Supply in 48320, MI
How many homes are available in 48320, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 19 | +46.2% |
Summary: The 48320 real estate market had 19 homes for sale in March 2024, a 46.2% 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 | 7 | 8 | +14.3% |
3 Bedrooms | 4 | 8 | +100.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48320 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 14.3%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 7 | +250.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 48320 in March 2024, up by 250.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 48320, MI
How long does it take to sell a home in 48320, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in 48320; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.