Is 48363, 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, 48363 has remained a Seller's Market.
Housing Prices in 48363, MI
How much do homes in 48363, MI cost?
Median Sold Price
$740,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48363 was $740,000 in March 2024, up 26.5% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $157.5K | $500K | +217.5% |
3 Bedrooms | $410K | $364.6K | -11.1% |
4 Bedrooms | $725K | $725K | 0.0% |
5+ Bedrooms | $875K | $910K | +4.0% |
Summary: 48363 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 217.5%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 4%.
Housing Supply in 48363, MI
How many homes are available in 48363, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 23 | +43.8% |
Summary: The 48363 real estate market had 23 homes for sale in March 2024, a 43.8% 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 | 2 | 1 | -50.0% |
3 Bedrooms | 2 | 3 | +50.0% |
4 Bedrooms | 8 | 13 | +62.5% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 48363 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 50%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 48363 in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for 48363, MI
How long does it take to sell a home in 48363, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
130 Days | 76 Days | -41.5% |
Summary: Homes in 48363 had an average of 76 days on market in Mar 2024, down by 41.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in 48363; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.