Is 48457, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48457 was a Neutral Market.
Housing Prices in 48457, MI
How much do homes in 48457, MI cost?
Median Sold Price
$185,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48457 was $185,000 in April 2024, up 18.6% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $75K | N/A |
2 Bedrooms | $125K | $111K | -11.2% |
3 Bedrooms | $161.6K | $185K | +14.5% |
4 Bedrooms | $212.2K | $245K | +15.4% |
5+ Bedrooms | $118.3K | $172.5K | +45.7% |
Summary: 48457 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 11.2%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 45.7%.
Housing Supply in 48457, MI
How many homes are available in 48457, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 25 | +13.6% |
Summary: The 48457 real estate market had 25 homes for sale in April 2024, a 13.6% 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 | 6 | 5 | -16.7% |
3 Bedrooms | 12 | 15 | +25.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48457 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 16.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 6 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in 48457 in April 2024, up by 100.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 48457, MI
How long does it take to sell a home in 48457, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
64 Days | 22 Days | -65.4% |
Summary: Homes in 48457 had an average of 22 days on market in Apr 2024, down by 65.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in 48457; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.