Is 48328, 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, 48328 has remained a Seller's Market.
Housing Prices in 48328, MI
How much do homes in 48328, MI cost?
Median Sold Price
$230,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48328 was $230,000 in March 2024, up 1.7% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $63.7K | $68K | +6.7% |
2 Bedrooms | $172.5K | $182.4K | +5.8% |
3 Bedrooms | $240K | $239K | -0.4% |
4 Bedrooms | $280K | $347.7K | +24.2% |
5+ Bedrooms | $299K | $291K | -2.7% |
Summary: 48328 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 5.8%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes decreased by 2.7%.
Housing Supply in 48328, MI
How many homes are available in 48328, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
72 | 80 | +11.1% |
Summary: The 48328 real estate market had 80 homes for sale in March 2024, a 11.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 16 | 15 | -6.3% |
3 Bedrooms | 35 | 40 | +14.3% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 48328 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 18 | -21.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 48328 in March 2024, down by 21.7% month-over-month. Of the 18 sold homes, 22% were sold under asking, 28% were sold at asking, and 50% were sold over asking.
Days on Market for 48328, MI
How long does it take to sell a home in 48328, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
70 Days | 16 Days | -77.1% |
Summary: Homes in 48328 had an average of 16 days on market in Mar 2024, down by 77.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 48328; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.