Is 48458, 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, 48458 was a Buyer's Market.
Key Takeaway
48458 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48458, MI
How much do homes in 48458, MI cost?
Median Sold Price
$131,900
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48458 have sold for 14.7% more than they did a year ago.
Summary: The median home sold price in 48458 was $131,900 in April 2024, up 14.7% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35.7K | $39.5K | +10.5% |
| 2 Bedrooms | $70.5K | $92.6K | +31.4% |
| 3 Bedrooms | $125K | $135K | +8.0% |
| 4 Bedrooms | $142K | $182K | +28.2% |
| 5+ Bedrooms | $172K | $158.5K | -7.8% |
Summary: 48458 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 31.4%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes decreased by 7.8%.
Housing Supply in 48458, MI
How many homes are available in 48458, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 64 | 60 | -6.3% |
Summary: The 48458 real estate market had 60 homes for sale in April 2024, a 6.3% 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 | 10 | 11 | +10.0% |
| 3 Bedrooms | 38 | 38 | 0.0% |
| 4 Bedrooms | 14 | 10 | -28.6% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48458 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 10%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48458, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 48458 in April 2024, up by 4.8% month-over-month. Of the 22 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for 48458, MI
How long does it take to sell a home in 48458, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 180 Days | 45 Days | -74.9% |
Summary: Homes in 48458 had an average of 45 days on market in Apr 2024, down by 74.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48458 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in 48458; 77% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.