Is 48430, 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, 48430 has remained a Seller's Market.
Housing Prices in 48430, MI
How much do homes in 48430, MI cost?
Median Sold Price
$345,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48430 was $345,000 in March 2024, up 13.1% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $180K | $325K | +80.6% |
2 Bedrooms | $244.4K | $228.2K | -6.6% |
3 Bedrooms | $285K | $333.5K | +17.0% |
4 Bedrooms | $390K | $439.9K | +12.8% |
5+ Bedrooms | $520K | $539K | +3.7% |
Summary: 48430 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 80.6%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 3.7%.
Housing Supply in 48430, MI
How many homes are available in 48430, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
86 | 102 | +18.6% |
Summary: The 48430 real estate market had 102 homes for sale in March 2024, a 18.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 15 | 18 | +20.0% |
3 Bedrooms | 43 | 54 | +25.6% |
4 Bedrooms | 19 | 20 | +5.3% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 48430 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 20%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 29 | +93.3% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 48430 in March 2024, up by 93.3% month-over-month. Of the 29 sold homes, 52% were sold under asking, 17% were sold at asking, and 31% were sold over asking.
Days on Market for 48430, MI
How long does it take to sell a home in 48430, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
83 Days | 29 Days | -64.5% |
Summary: Homes in 48430 had an average of 29 days on market in Mar 2024, down by 64.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in 48430; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.