Is 48473, 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, 48473 has remained a Seller's Market.
Key Takeaway
48473 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48473, MI
How much do homes in 48473, MI cost?
Median Sold Price
$228,333
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48473 have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in 48473 was $228,333 in March 2024, up 6.2% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $216.2K | - | N/A |
| 2 Bedrooms | $179K | $200K | +11.7% |
| 3 Bedrooms | $200.5K | $217K | +8.2% |
| 4 Bedrooms | $259.9K | $279.9K | +7.7% |
| 5+ Bedrooms | $288.9K | $292K | +1.0% |
Summary: 48473 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 11.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 1%.
Housing Supply in 48473, MI
How many homes are available in 48473, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 66 | -8.3% |
Summary: The 48473 real estate market had 66 homes for sale in March 2024, a 8.3% decrease 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 | 6 | 8 | +33.3% |
| 3 Bedrooms | 46 | 43 | -6.5% |
| 4 Bedrooms | 16 | 11 | -31.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48473 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 33.3%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48473, you could pay more than the asking price. 47.6% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 48473 in March 2024, down by 4.5% month-over-month. Of the 21 sold homes, 33% were sold under asking, 19% were sold at asking, and 48% were sold over asking.
Days on Market for 48473, MI
How long does it take to sell a home in 48473, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 31 Days | -51.9% |
Summary: Homes in 48473 had an average of 31 days on market in Mar 2024, down by 51.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48473 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in 48473; 67% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.