Is 48356, 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, 48356 has remained a Seller's Market.
Key Takeaway
48356 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48356, MI
How much do homes in 48356, MI cost?
Median Sold Price
$316,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48356 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 48356 was $316,000 in March 2024, up 6% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $323K | - | N/A |
| 2 Bedrooms | $185K | $197.5K | +6.8% |
| 3 Bedrooms | $270K | $284.7K | +5.5% |
| 4 Bedrooms | $459.9K | $385K | -16.3% |
| 5+ Bedrooms | $365K | $490K | +34.2% |
Summary: 48356 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 increased by 6.8%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 16.3%, and 5+ bedroom homes increased by 34.2%.
Housing Supply in 48356, MI
How many homes are available in 48356, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Summary: The 48356 real estate market had 23 homes for sale in March 2024, a 35.3% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 9 | 16 | +77.8% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48356 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 50%, 3 bedroom homes increased by 77.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48356, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48356 in March 2024, up by 350.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for 48356, MI
How long does it take to sell a home in 48356, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 157 Days | 16 Days | -89.7% |
Summary: Homes in 48356 had an average of 16 days on market in Mar 2024, down by 89.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48356 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 48356; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
