Is 48326, 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, 48326 has remained a Seller's Market.
Housing Prices in 48326, MI
How much do homes in 48326, MI cost?
Median Sold Price
$269,500
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48326 was $269,500 in March 2024, up 9.2% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $93.5K | +6.9% |
2 Bedrooms | $215K | $240K | +11.6% |
3 Bedrooms | $250K | $270K | +8.0% |
4 Bedrooms | $405K | $375K | -7.4% |
5+ Bedrooms | $260K | $335K | +28.8% |
Summary: 48326 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 28.8%.
Housing Supply in 48326, MI
How many homes are available in 48326, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 57 | +16.3% |
Summary: The 48326 real estate market had 57 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 19 | 20 | +5.3% |
3 Bedrooms | 15 | 26 | +73.3% |
4 Bedrooms | 13 | 8 | -38.5% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48326 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 73.3%, 4 bedroom homes decreased by 38.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 20 | +81.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 48326 in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 25% were sold under asking, 15% were sold at asking, and 60% were sold over asking.
Days on Market for 48326, MI
How long does it take to sell a home in 48326, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
86 Days | 21 Days | -74.7% |
Summary: Homes in 48326 had an average of 21 days on market in Mar 2024, down by 74.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 48326; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.