Is 48438, 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, 48438 has remained a Seller's Market.
Key Takeaway
48438 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48438, MI
How much do homes in 48438, MI cost?
Median Sold Price
$330,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48438 have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in 48438 was $330,000 in April 2024, up 1.5% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $239.9K | $230K | -4.1% |
| 3 Bedrooms | $300K | $288.9K | -3.7% |
| 4 Bedrooms | $398.5K | $397.2K | -0.3% |
| 5+ Bedrooms | $491.7K | $493K | 0.3% |
Summary: 48438 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 4.1%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 0.3%.
Housing Supply in 48438, MI
How many homes are available in 48438, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 18 | +28.6% |
Summary: The 48438 real estate market had 18 homes for sale in April 2024, a 28.6% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 48438 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48438, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 48438 in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 48438, MI
How long does it take to sell a home in 48438, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 14 Days | -19.4% |
Summary: Homes in 48438 had an average of 14 days on market in Apr 2024, down by 19.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48438 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 48438; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
