Is 48359, 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, 48359 has remained a Seller's Market.
Key Takeaway
48359 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48359, MI
How much do homes in 48359, MI cost?
Median Sold Price
$397,995
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48359 have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in 48359 was $397,995 in March 2024, up 6.5% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $200K | $244.2K | +22.1% |
| 3 Bedrooms | $320K | $387.5K | +21.1% |
| 4 Bedrooms | $440K | $420K | -4.5% |
| 5+ Bedrooms | $520K | $590K | +13.5% |
Summary: 48359 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 22.1%, 3 bedroom homes increased by 21.1%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 13.5%.
Housing Supply in 48359, MI
How many homes are available in 48359, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The 48359 real estate market had 17 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48359 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 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48359, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48359 in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 48359, MI
How long does it take to sell a home in 48359, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 297 Days | 32 Days | -89.1% |
Summary: Homes in 48359 had an average of 32 days on market in Mar 2024, down by 89.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48359 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in 48359; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
