Is 48386, 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, 48386 has remained a Seller's Market.
Housing Prices in 48386, MI
How much do homes in 48386, MI cost?
Median Sold Price
$375,206
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48386 was $375,206 in March 2024, up 13.6% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $190K | -28.3% |
2 Bedrooms | $282K | $340K | +20.6% |
3 Bedrooms | $299.9K | $338K | +12.7% |
4 Bedrooms | $427.4K | $439K | +2.7% |
5+ Bedrooms | $360K | $557.5K | +54.9% |
Summary: 48386 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.3%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 54.9%.
Housing Supply in 48386, MI
How many homes are available in 48386, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
61 | 77 | +26.2% |
Summary: The 48386 real estate market had 77 homes for sale in March 2024, a 26.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 9 | 11 | +22.2% |
3 Bedrooms | 29 | 36 | +24.1% |
4 Bedrooms | 18 | 27 | +50.0% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 48386 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 17 | +142.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in 48386 in March 2024, up by 142.9% month-over-month. Of the 17 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.
Days on Market for 48386, MI
How long does it take to sell a home in 48386, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
172 Days | 34 Days | -80.0% |
Summary: Homes in 48386 had an average of 34 days on market in Mar 2024, down by 80% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 17 homes were sold in 48386; 71% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.