Is 48421, 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, 48421 has remained a Seller's Market.
Key Takeaway
48421 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48421, MI
How much do homes in 48421, MI cost?
Median Sold Price
$252,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48421 have sold for 12% more than they did a year ago.
Summary: The median home sold price in 48421 was $252,000 in April 2024, up 12% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.9K | $325K | +97.1% |
| 2 Bedrooms | $190K | $255K | +34.2% |
| 3 Bedrooms | $227K | $216K | -4.8% |
| 4 Bedrooms | $232K | $270K | +16.4% |
| 5+ Bedrooms | $445K | $319.9K | -28.1% |
Summary: 48421 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 97.1%, 2 bedroom homes increased by 34.2%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 28.1%.
Housing Supply in 48421, MI
How many homes are available in 48421, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 24 | +33.3% |
Summary: The 48421 real estate market had 24 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The 48421 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 increased by 200%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48421, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48421 in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for 48421, MI
How long does it take to sell a home in 48421, MI?
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48421 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 48421; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.