Is 48381, 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, 48381 has remained a Seller's Market.
Housing Prices in 48381, MI
How much do homes in 48381, MI cost?
Median Sold Price
$415,000
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48381 was $415,000 in March 2024, up 8.1% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $149K | $130K | -12.8% |
2 Bedrooms | $237.5K | $305K | +28.4% |
3 Bedrooms | $330K | $370K | +12.1% |
4 Bedrooms | $505K | $525K | +4.0% |
5+ Bedrooms | $555K | $550K | -0.9% |
Summary: 48381 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.8%, 2 bedroom homes increased by 28.4%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 0.9%.
Housing Supply in 48381, MI
How many homes are available in 48381, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 49 | +11.4% |
Summary: The 48381 real estate market had 49 homes for sale in March 2024, a 11.4% 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 | 5 | 7 | +40.0% |
3 Bedrooms | 18 | 21 | +16.7% |
4 Bedrooms | 17 | 17 | 0.0% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48381 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 40%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 48381 in March 2024, up by 10.0% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for 48381, MI
How long does it take to sell a home in 48381, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
149 Days | 13 Days | -90.7% |
Summary: Homes in 48381 had an average of 13 days on market in Mar 2024, down by 90.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 48381; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.