Is 48322, 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, 48322 has remained a Seller's Market.
Housing Prices in 48322, MI
How much do homes in 48322, MI cost?
Median Sold Price
$365,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48322 was $365,000 in March 2024, up 1.8% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $95.8K | +9.5% |
2 Bedrooms | $260K | $254.9K | -2.0% |
3 Bedrooms | $335K | $349.5K | +4.3% |
4 Bedrooms | $430K | $445K | +3.5% |
5+ Bedrooms | $590K | $645.5K | +9.4% |
Summary: 48322 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.5%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 9.4%.
Housing Supply in 48322, MI
How many homes are available in 48322, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
79 | 85 | +7.6% |
Summary: The 48322 real estate market had 85 homes for sale in March 2024, a 7.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 26 | 30 | +15.4% |
3 Bedrooms | 16 | 17 | +6.3% |
4 Bedrooms | 30 | 30 | 0.0% |
5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 48322 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 27 | +12.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 48322 in March 2024, up by 12.5% month-over-month. Of the 27 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for 48322, MI
How long does it take to sell a home in 48322, MI?
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in 48322; 63% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.