Is 48435, 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, 48435 has remained a Seller's Market.
Key Takeaway
48435 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48435, MI
How much do homes in 48435, MI cost?
Median Sold Price
$224,000
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48435 have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in 48435 was $224,000 in April 2024, up 10.7% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $165K | $165K | 0.0% |
| 3 Bedrooms | $204K | $265K | +29.9% |
| 4 Bedrooms | $192.5K | $272.4K | +41.5% |
| 5+ Bedrooms | - | $150K | N/A |
Summary: 48435 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 did not change, 3 bedroom homes increased by 29.9%, 4 bedroom homes increased by 41.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48421 | $225K | $252K | +12.0% |
| 48435 | $202.3K | $224K | +10.7% |
| 48461 | $242K | $239.9K | -0.8% |
| 48744 | $180K | $175.5K | -2.5% |
Housing Supply in 48435, MI
How many homes are available in 48435, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The 48435 real estate market had 5 homes for sale in April 2024, a 16.7% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48435 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 decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48435, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48435 in April 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48435, MI
How long does it take to sell a home in 48435, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 16 Days | +128.6% |
Summary: Homes in 48435 had an average of 16 days on market in Apr 2024, up by 128.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48435 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 48435; 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.
