Is 48390, 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, 48390 has remained a Seller's Market.
Housing Prices in 48390, MI
How much do homes in 48390, MI cost?
Median Sold Price
$290,500
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48390 was $290,500 in March 2024, up 4% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $161.7K | $200K | +23.6% |
2 Bedrooms | $226K | $255K | +12.8% |
3 Bedrooms | $300K | $307.5K | +2.5% |
4 Bedrooms | $419.9K | $439K | +4.5% |
5+ Bedrooms | $608.5K | $620K | +1.9% |
Summary: 48390 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 1.9%.
Housing Supply in 48390, MI
How many homes are available in 48390, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
66 | 77 | +16.7% |
Summary: The 48390 real estate market had 77 homes for sale in March 2024, a 16.7% 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 | 24 | 28 | +16.7% |
3 Bedrooms | 27 | 29 | +7.4% |
4 Bedrooms | 12 | 18 | +50.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48390 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 16.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 23 | +27.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 48390 in March 2024, up by 27.8% month-over-month. Of the 23 sold homes, 30% were sold under asking, 26% were sold at asking, and 43% were sold over asking.
Days on Market for 48390, MI
How long does it take to sell a home in 48390, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
92 Days | 27 Days | -70.2% |
Summary: Homes in 48390 had an average of 27 days on market in Mar 2024, down by 70.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in 48390; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.