Is 48422, 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, 48422 has remained a Buyer's Market.
Key Takeaway
48422 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48422, MI
How much do homes in 48422, MI cost?
Median Sold Price
$145,000
$95/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48422 have sold for 5.8% less than they did a year ago.
Summary: The median home sold price in 48422 was $145,000 in April 2024, down 5.8% from last year, and the median price per square foot was $95.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $134K | $90.1K | -32.8% |
| 3 Bedrooms | $137.5K | $148.5K | +8.0% |
| 4 Bedrooms | $185K | $150K | -18.9% |
| 5+ Bedrooms | $150K | $189.9K | +26.6% |
Summary: 48422 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 decreased by 32.8%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 18.9%, and 5+ bedroom homes increased by 26.6%.
Housing Supply in 48422, MI
How many homes are available in 48422, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 24 | +33.3% |
Summary: The 48422 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 | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48422 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 33.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48422, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 48422 in April 2024, the same as the previous month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 48422, MI
How long does it take to sell a home in 48422, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48422 has remained consistent over time.
Summary: During April 2024, 3 homes were sold in 48422; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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