Is 48461, 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, 48461 has remained a Seller's Market.
Housing Prices in 48461, MI
How much do homes in 48461, MI cost?
Median Sold Price
$239,950
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48461 was $239,950 in March 2024, up 4.4% 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 | - | $270K | N/A |
2 Bedrooms | $145.9K | $217.5K | +49.1% |
3 Bedrooms | $224.9K | $235K | +4.5% |
4 Bedrooms | $357.5K | $290K | -18.9% |
5+ Bedrooms | $372.4K | $520K | +39.6% |
Summary: 48461 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49.1%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 18.9%, and 5+ bedroom homes increased by 39.6%.
Median Sold Price Compared To Nearby Zip Codes
48435 | $204K | $224K | +9.8% |
48421 | $225K | $246.5K | +9.6% |
48461 | $229.8K | $239.9K | +4.4% |
48412 | $268K | $257.5K | -3.9% |
Housing Supply in 48461, MI
How many homes are available in 48461, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 24 | +4.3% |
Summary: The 48461 real estate market had 24 homes for sale in March 2024, a 4.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 17 | 17 | 0.0% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48461 housing inventory by bedroom type for March 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 remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 48461 in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for 48461, MI
How long does it take to sell a home in 48461, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
94 Days | 81 Days | -13.6% |
Summary: Homes in 48461 had an average of 81 days on market in Mar 2024, down by 13.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in 48461; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.