Is 48418, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 48418 was a Seller's Market.
Housing Prices in 48418, MI
How much do homes in 48418, MI cost?
Median Sold Price
$297,750
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48418 was $297,750 in March 2024, up 5.9% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $260K | - | N/A |
2 Bedrooms | $215K | $213.5K | -0.7% |
3 Bedrooms | $255K | $300K | +17.6% |
4 Bedrooms | $336.1K | $295.5K | -12.1% |
5+ Bedrooms | $389K | $305K | -21.6% |
Summary: 48418 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes decreased by 21.6%.
Median Sold Price Compared To Nearby Zip Codes
48418 | $281.2K | $297.7K | +5.9% |
48414 | $180K | $189.5K | +5.3% |
48857 | $182.4K | $185K | +1.4% |
48436 | $249.9K | $250.4K | 0.2% |
48429 | $175K | $160K | -8.6% |
Housing Supply in 48418, MI
How many homes are available in 48418, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 6 | -14.3% |
Summary: The 48418 real estate market had 6 homes for sale in March 2024, a 14.3% 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 | 0 | 2 | +100.0% |
3 Bedrooms | 4 | 3 | -25.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48418 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 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in 48418 in March 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48418, MI
How long does it take to sell a home in 48418, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
130 Days | 21 Days | -83.8% |
Summary: Homes in 48418 had an average of 21 days on market in Mar 2024, down by 83.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in 48418; 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.