Is 48371, 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, 48371 has remained a Seller's Market.
Housing Prices in 48371, MI
How much do homes in 48371, MI cost?
Median Sold Price
$395,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48371 was $395,000 in March 2024, up 7.1% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $115K | +4.5% |
2 Bedrooms | $182K | $239K | +31.3% |
3 Bedrooms | $325K | $337.5K | +3.8% |
4 Bedrooms | $450K | $468.3K | +4.1% |
5+ Bedrooms | $556.5K | $535K | -3.9% |
Summary: 48371 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 3.9%.
Housing Supply in 48371, MI
How many homes are available in 48371, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
71 | 77 | +8.5% |
Summary: The 48371 real estate market had 77 homes for sale in March 2024, a 8.5% 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 | 5 | 6 | +20.0% |
3 Bedrooms | 29 | 31 | +6.9% |
4 Bedrooms | 30 | 29 | -3.3% |
5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The 48371 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 20%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 14 | -30.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48371 in March 2024, down by 30.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.
Days on Market for 48371, MI
How long does it take to sell a home in 48371, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
1 Days | 44 Days | +2838.1% |
Summary: Homes in 48371 had an average of 44 days on market in Mar 2024, up by 2838.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 48371; 79% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.