Is 48327, 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, 48327 has remained a Seller's Market.
Key Takeaway
48327 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48327, MI
How much do homes in 48327, MI cost?
Median Sold Price
$252,250
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48327 have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in 48327 was $252,250 in March 2024, up 0.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $82.5K | $87.5K | +6.0% |
| 2 Bedrooms | $165.5K | $187K | +13.0% |
| 3 Bedrooms | $264.6K | $271.5K | +2.6% |
| 4 Bedrooms | $347.5K | $335K | -3.6% |
| 5+ Bedrooms | $372.5K | $355K | -4.7% |
Summary: 48327 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 4.7%.
Housing Supply in 48327, MI
How many homes are available in 48327, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 53 | 67 | +26.4% |
Summary: The 48327 real estate market had 67 homes for sale in March 2024, a 26.4% 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 | 12 | 13 | +8.3% |
| 3 Bedrooms | 29 | 37 | +27.6% |
| 4 Bedrooms | 12 | 17 | +41.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48327 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 8.3%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48327, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 48327 in March 2024, up by 13.3% month-over-month. Of the 17 sold homes, 29% were sold under asking, 29% were sold at asking, and 41% were sold over asking.
Days on Market for 48327, MI
How long does it take to sell a home in 48327, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 101 Days | 24 Days | -76.3% |
Summary: Homes in 48327 had an average of 24 days on market in Mar 2024, down by 76.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48327 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in 48327; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
