Is 48350, 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, 48350 has remained a Seller's Market.
Housing Prices in 48350, MI
How much do homes in 48350, MI cost?
Median Sold Price
$390,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48350 was $390,000 in March 2024, down 2.9% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $292K | $255K | -12.7% |
3 Bedrooms | $385K | $384K | -0.3% |
4 Bedrooms | $462.5K | $402.5K | -13.0% |
5+ Bedrooms | $482.5K | $600K | +24.4% |
Summary: 48350 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 12.7%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes increased by 24.4%.
Housing Supply in 48350, MI
How many homes are available in 48350, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 24 | -4.0% |
Summary: The 48350 real estate market had 24 homes for sale in March 2024, a 4.0% decrease 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 | 2 | 2 | 0.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 10 | 8 | -20.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48350 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 5 | -44.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 48350 in March 2024, down by 44.4% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 48350, MI
How long does it take to sell a home in 48350, MI?
Breakdown of Home Sale Times
4 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, 5 homes were sold in 48350; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.