Is 48374, 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, 48374 has remained a Seller's Market.
Key Takeaway
48374 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48374, MI
How much do homes in 48374, MI cost?
Median Sold Price
$657,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48374 have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in 48374 was $657,000 in March 2024, up 11.4% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $499.9K | $427.5K | -14.5% |
| 3 Bedrooms | $437.7K | $503K | +14.9% |
| 4 Bedrooms | $605.2K | $727.5K | +20.2% |
| 5+ Bedrooms | $872.5K | $807K | -7.5% |
Summary: 48374 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 decreased by 14.5%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes decreased by 7.5%.
Housing Supply in 48374, MI
How many homes are available in 48374, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 20 | -20.0% |
Summary: The 48374 real estate market had 20 homes for sale in March 2024, a 20.0% decrease 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 8 | 4 | -50.0% |
Summary: The 48374 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 25%, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48374, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 48374 in March 2024, the same as the previous month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for 48374, MI
How long does it take to sell a home in 48374, MI?
Breakdown of Home Sale Times
6 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 48374 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in 48374; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
