Is 48362, 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, 48362 has remained a Seller's Market.
Housing Prices in 48362, MI
How much do homes in 48362, MI cost?
Median Sold Price
$330,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48362 was $330,000 in March 2024, down 2.9% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $175K | N/A |
2 Bedrooms | $194K | $210K | +8.2% |
3 Bedrooms | $280K | $299.5K | +7.0% |
4 Bedrooms | $547K | $470K | -14.1% |
5+ Bedrooms | $485K | $705K | +45.4% |
Summary: 48362 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 8.2%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes increased by 45.4%.
Housing Supply in 48362, MI
How many homes are available in 48362, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 47 | +42.4% |
Summary: The 48362 real estate market had 47 homes for sale in March 2024, a 42.4% increase 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 | 5 | 5 | 0.0% |
3 Bedrooms | 13 | 20 | +53.8% |
4 Bedrooms | 13 | 18 | +38.5% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 48362 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 increased by 53.8%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 10 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 48362 in March 2024, up by 100.0% month-over-month. Of the 10 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48362, MI
How long does it take to sell a home in 48362, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
89 Days | 16 Days | -81.9% |
Summary: Homes in 48362 had an average of 16 days on market in Mar 2024, down by 81.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in 48362; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.