Is 48380, 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, 48380 has remained a Seller's Market.
Key Takeaway
48380 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48380, MI
How much do homes in 48380, MI cost?
Median Sold Price
$610,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48380 have sold for 17.3% more than they did a year ago.
Summary: The median home sold price in 48380 was $610,000 in March 2024, up 17.3% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $140K | -22.2% |
| 2 Bedrooms | $220K | $297.5K | +35.2% |
| 3 Bedrooms | $347.5K | $455.2K | +31.0% |
| 4 Bedrooms | $525K | $672.5K | +28.1% |
| 5+ Bedrooms | $733K | $762.5K | +4.0% |
Summary: 48380 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 35.2%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 4%.
Housing Supply in 48380, MI
How many homes are available in 48380, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Summary: The 48380 real estate market had 17 homes for sale in March 2024, a 5.6% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The 48380 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 decreased by 50%, 4 bedroom homes increased by 60%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48380, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 48380 in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for 48380, MI
How long does it take to sell a home in 48380, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 41 Days | -33.2% |
Summary: Homes in 48380 had an average of 41 days on market in Mar 2024, down by 33.2% compared to last year.
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 48380 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in 48380; 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.
