Is 48322, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48322 is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, 48322 has remained a Seller's Market.

Key Takeaway

48322 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48322, MI

How much do homes in 48322, MI cost?

Median Sold Price

$368,750

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$3,750(+1.0%)

Key Takeaway

Homes in 48322 have sold for 1% more than they did a year ago.

Summary: The median home sold price in 48322 was $368,750 in September 2024, up 1% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $87.2K$104.4K
+19.8%
2 $258.7K$264.9K
+2.4%
3 $325K$350K
+7.7%
4 $428.2K$489.9K
+14.4%
5+ $550K$671K
+22.0%

Summary: 48322 housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.8%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 22%.

Median Sold Price Compared To Nearby Zip Codes

48301
+11.8%
48334
+7.9%
48331
+6.2%
48322
+1.0%
48323
-2.1%

Housing Supply in 48322, MI

How many homes are available in 48322, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
142150+5.6%

Summary: The 48322 real estate market had 150 homes for sale in September 2024, a 5.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 56
+20.0%
2 3632
-11.1%
3 5561
+10.9%
4 3639
+8.3%
5+ 1012
+20.0%

Summary: The 48322 housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2935+20.7%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48322, you may be able to get a good deal. 45.7% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in 48322 in September 2024, up by 20.7% month-over-month. Of the 35 sold homes, 46% were sold under asking, 11% were sold at asking, and 43% were sold over asking.

Days on Market for 48322, MI

How long does it take to sell a home in 48322, MI?

Average Sale Time

Sep 2023Sep 2024CHANGE
14 Days22 Days+57.4%

Summary: Homes in 48322 had an average of 22 days on market in Sep 2024, up by 57.4% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48322 are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 35 homes were sold in 48322; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in 48322, MI

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