Is 48439, 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, 48439 has remained a Seller's Market.
Housing Prices in 48439, MI
How much do homes in 48439, MI cost?
Median Sold Price
$266,214
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48439 was $266,214 in March 2024, up 3.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $112.5K | -6.3% |
2 Bedrooms | $190K | $218.7K | +15.1% |
3 Bedrooms | $234.5K | $246K | +4.9% |
4 Bedrooms | $330K | $322K | -2.4% |
5+ Bedrooms | $445K | $388.2K | -12.8% |
Summary: 48439 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 12.8%.
Housing Supply in 48439, MI
How many homes are available in 48439, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
168 | 174 | +3.6% |
Summary: The 48439 real estate market had 174 homes for sale in March 2024, a 3.6% 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 | 21 | 24 | +14.3% |
3 Bedrooms | 75 | 69 | -8.0% |
4 Bedrooms | 53 | 58 | +9.4% |
5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The 48439 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 increased by 14.3%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 40 | -4.8% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in 48439 in March 2024, down by 4.8% month-over-month. Of the 40 sold homes, 48% were sold under asking, 30% were sold at asking, and 23% were sold over asking.
Days on Market for 48439, MI
How long does it take to sell a home in 48439, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
154 Days | 45 Days | -70.6% |
Summary: Homes in 48439 had an average of 45 days on market in Mar 2024, down by 70.6% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 40 homes were sold in 48439; 60% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.