Is 48336, 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, 48336 has remained a Seller's Market.
Key Takeaway
48336 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48336, MI
How much do homes in 48336, MI cost?
Median Sold Price
$274,983
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48336 have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in 48336 was $274,983 in March 2024, up 10.7% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94.7K | $90.5K | -4.4% |
| 2 Bedrooms | $151K | $169.4K | +12.2% |
| 3 Bedrooms | $251K | $290K | +15.5% |
| 4 Bedrooms | $337.5K | $340K | +0.7% |
| 5+ Bedrooms | $410K | $400K | -2.4% |
Summary: 48336 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 2.4%.
Housing Supply in 48336, MI
How many homes are available in 48336, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 76 | 82 | +7.9% |
Summary: The 48336 real estate market had 82 homes for sale in March 2024, a 7.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 40 | 45 | +12.5% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 48336 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 6.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 27 | +42.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48336, you could pay more than the asking price. 63% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 48336 in March 2024, up by 42.1% month-over-month. Of the 27 sold homes, 26% were sold under asking, 11% were sold at asking, and 63% were sold over asking.
Days on Market for 48336, MI
How long does it take to sell a home in 48336, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 148 Days | 14 Days | -89.9% |
Summary: Homes in 48336 had an average of 14 days on market in Mar 2024, down by 89.9% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48336 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in 48336; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
