Is 48346, 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, 48346 has remained a Seller's Market.
Housing Prices in 48346, MI
How much do homes in 48346, MI cost?
Median Sold Price
$335,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48346 was $335,000 in March 2024, up 6.2% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $236.5K | $228.2K | -3.5% |
3 Bedrooms | $285K | $295K | +3.5% |
4 Bedrooms | $359K | $386.2K | +7.6% |
5+ Bedrooms | $487.5K | $662.5K | +35.9% |
Summary: 48346 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 3.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 35.9%.
Housing Supply in 48346, MI
How many homes are available in 48346, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 53 | +8.2% |
Summary: The 48346 real estate market had 53 homes for sale in March 2024, a 8.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 9 | 7 | -22.2% |
3 Bedrooms | 16 | 28 | +75.0% |
4 Bedrooms | 21 | 15 | -28.6% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48346 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 decreased by 22.2%, 3 bedroom homes increased by 75%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 14 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48346 in March 2024, down by 12.5% month-over-month. Of the 14 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for 48346, MI
How long does it take to sell a home in 48346, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 16 Days | -21.1% |
Summary: Homes in 48346 had an average of 16 days on market in Mar 2024, down by 21.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 48346; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.