Is 48433, 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, 48433 has remained a Seller's Market.
Housing Prices in 48433, MI
How much do homes in 48433, MI cost?
Median Sold Price
$217,500
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48433 was $217,500 in March 2024, up 6.3% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | $93K | +43.1% |
2 Bedrooms | $155K | $170K | +9.7% |
3 Bedrooms | $200K | $215K | +7.5% |
4 Bedrooms | $242.9K | $266K | +9.5% |
5+ Bedrooms | $320K | $343.7K | +7.4% |
Summary: 48433 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.1%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 7.4%.
Housing Supply in 48433, MI
How many homes are available in 48433, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
68 | 74 | +8.8% |
Summary: The 48433 real estate market had 74 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 41 | 48 | +17.1% |
4 Bedrooms | 13 | 14 | +7.7% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48433 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 21 | +31.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in 48433 in March 2024, up by 31.3% month-over-month. Of the 21 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 48433, MI
How long does it take to sell a home in 48433, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 39 Days | -34.7% |
Summary: Homes in 48433 had an average of 39 days on market in Mar 2024, down by 34.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in 48433; 52% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.