Is 48353, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48353 was a Neutral Market.
Key Takeaway
48353 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48353, MI
How much do homes in 48353, MI cost?
Median Sold Price
$386,250
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48353 have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in 48353 was $386,250 in April 2024, up 4.7% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.5K | $112.5K | 0.0% |
| 2 Bedrooms | $300K | $257.5K | -14.2% |
| 3 Bedrooms | $356.5K | $405K | +13.6% |
| 4 Bedrooms | $438.5K | $464.5K | +5.9% |
| 5+ Bedrooms | $575K | $500K | -13.0% |
Summary: 48353 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 13%.
Housing Supply in 48353, MI
How many homes are available in 48353, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The 48353 real estate market had 18 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48353 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48353, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48353 in April 2024, up by 200.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for 48353, MI
How long does it take to sell a home in 48353, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 146 Days | 11 Days | -92.1% |
Summary: Homes in 48353 had an average of 11 days on market in Apr 2024, down by 92.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48353 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 48353; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
