Is 48324, 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, 48324 has remained a Seller's Market.
Key Takeaway
48324 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48324, MI
How much do homes in 48324, MI cost?
Median Sold Price
$421,500
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48324 have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in 48324 was $421,500 in March 2024, down 1.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $65K | -43.5% |
| 2 Bedrooms | $242.5K | $231K | -4.7% |
| 3 Bedrooms | $321K | $331K | +3.1% |
| 4 Bedrooms | $472K | $471.2K | -0.2% |
| 5+ Bedrooms | $747.3K | $1.1M | +52.8% |
Summary: 48324 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.5%, 2 bedroom homes decreased by 4.7%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 52.8%.
Housing Supply in 48324, MI
How many homes are available in 48324, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 48 | +41.2% |
Summary: The 48324 real estate market had 48 homes for sale in March 2024, a 41.2% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 12 | 19 | +58.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 48324 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 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 58.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48324, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 48324 in March 2024, up by 120.0% month-over-month. Of the 11 sold homes, 73% were sold under asking, 0% were sold at asking, and 27% were sold over asking.
Days on Market for 48324, MI
How long does it take to sell a home in 48324, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 156 Days | 15 Days | -90.1% |
Summary: Homes in 48324 had an average of 15 days on market in Mar 2024, down by 90.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48324 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in 48324; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
