Is 48412, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48412 has remained a Seller's Market.
Key Takeaway
48412 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48412, MI
How much do homes in 48412, MI cost?
Median Sold Price
$265,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48412 have sold for 6.7% less than they did a year ago.
Summary: The median home sold price in 48412 was $265,000 in April 2024, down 6.7% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111K | - | N/A |
| 2 Bedrooms | $138.5K | $180K | +30.0% |
| 3 Bedrooms | $263K | $257.5K | -2.1% |
| 4 Bedrooms | $340K | $408K | +20.0% |
| 5+ Bedrooms | $382.7K | $280K | -26.8% |
Summary: 48412 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 26.8%.
Housing Supply in 48412, MI
How many homes are available in 48412, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Summary: The 48412 real estate market had 10 homes for sale in April 2024, a 16.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48412 housing inventory by bedroom type for April 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 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48412, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 48412 in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 48412, MI
How long does it take to sell a home in 48412, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48412 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 48412; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.