Is 48342, 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, 48342 has remained a Seller's Market.
Housing Prices in 48342, MI
How much do homes in 48342, MI cost?
Median Sold Price
$104,000
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48342 was $104,000 in March 2024, down 2.8% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62K | - | N/A |
2 Bedrooms | $72K | $71.2K | -1.0% |
3 Bedrooms | $115K | $120.6K | +4.9% |
4 Bedrooms | $122K | $139.9K | +14.7% |
5+ Bedrooms | $70K | $87.5K | +25.0% |
Summary: 48342 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 25%.
Housing Supply in 48342, MI
How many homes are available in 48342, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 54 | +14.9% |
Summary: The 48342 real estate market had 54 homes for sale in March 2024, a 14.9% 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 | 8 | 11 | +37.5% |
3 Bedrooms | 18 | 26 | +44.4% |
4 Bedrooms | 13 | 11 | -15.4% |
5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The 48342 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 37.5%, 3 bedroom homes increased by 44.4%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 14 | +133.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48342 in March 2024, up by 133.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.
Days on Market for 48342, MI
How long does it take to sell a home in 48342, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
101 Days | 41 Days | -58.9% |
Summary: Homes in 48342 had an average of 41 days on market in Mar 2024, down by 58.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 48342; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.