Is 48375, 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, 48375 has remained a Seller's Market.
Housing Prices in 48375, MI
How much do homes in 48375, MI cost?
Median Sold Price
$379,450
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48375 was $379,450 in March 2024, up 13% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | - | N/A |
2 Bedrooms | $193.5K | $200K | +3.4% |
3 Bedrooms | $315K | $353.7K | +12.3% |
4 Bedrooms | $495K | $538K | +8.7% |
5+ Bedrooms | $687.4K | $666.1K | -3.1% |
Summary: 48375 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 3.4%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 3.1%.
Housing Supply in 48375, MI
How many homes are available in 48375, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 48 | +14.3% |
Summary: The 48375 real estate market had 48 homes for sale in March 2024, a 14.3% 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 | 11 | 17 | +54.5% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The 48375 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 54.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 20 | +81.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 48375 in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.
Days on Market for 48375, MI
How long does it take to sell a home in 48375, MI?
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 48375; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.