Is 48329, 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, 48329 has remained a Seller's Market.
Housing Prices in 48329, MI
How much do homes in 48329, MI cost?
Median Sold Price
$260,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48329 was $260,000 in March 2024, up 2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | $114.2K | -21.2% |
2 Bedrooms | $180K | $201.5K | +11.9% |
3 Bedrooms | $255K | $260K | +2.0% |
4 Bedrooms | $345K | $319.5K | -7.4% |
5+ Bedrooms | $375K | $341.8K | -8.9% |
Summary: 48329 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.2%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes decreased by 8.9%.
Housing Supply in 48329, MI
How many homes are available in 48329, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
59 | 62 | +5.1% |
Summary: The 48329 real estate market had 62 homes for sale in March 2024, a 5.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 38 | 41 | +7.9% |
4 Bedrooms | 12 | 12 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48329 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 decreased by 12.5%, 3 bedroom homes increased by 7.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 18 | -5.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 48329 in March 2024, down by 5.3% month-over-month. Of the 18 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for 48329, MI
How long does it take to sell a home in 48329, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
96 Days | 25 Days | -73.5% |
Summary: Homes in 48329 had an average of 25 days on market in Mar 2024, down by 73.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 48329; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.