Is 48323, 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, 48323 has remained a Seller's Market.
Key Takeaway
48323 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48323, MI
How much do homes in 48323, MI cost?
Median Sold Price
$467,648
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48323 have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in 48323 was $467,648 in March 2024, up 3.9% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $259K | $228.7K | -11.7% |
| 3 Bedrooms | $380K | $385K | +1.3% |
| 4 Bedrooms | $515K | $520K | +1.0% |
| 5+ Bedrooms | $675K | $645K | -4.4% |
Summary: 48323 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 decreased by 11.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 4.4%.
Housing Supply in 48323, MI
How many homes are available in 48323, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 50 | +6.4% |
Summary: The 48323 real estate market had 50 homes for sale in March 2024, a 6.4% 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 | 9 | 8 | -11.1% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 48323 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 11.1%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 19 | +90.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48323, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 48323 in March 2024, up by 90.0% month-over-month. Of the 19 sold homes, 68% were sold under asking, 11% were sold at asking, and 21% were sold over asking.
Days on Market for 48323, MI
How long does it take to sell a home in 48323, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 106 Days | 35 Days | -66.6% |
Summary: Homes in 48323 had an average of 35 days on market in Mar 2024, down by 66.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48323 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 19 homes were sold in 48323; 58% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.