Is 48504, 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, 48504 has remained a Seller's Market.
Housing Prices in 48504, MI
How much do homes in 48504, MI cost?
Median Sold Price
$52,250
$44/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48504 was $52,250 in March 2024, down 5% from last year, and the median price per square foot was $44.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $7K | - | N/A |
2 Bedrooms | $37K | $32K | -13.5% |
3 Bedrooms | $57K | $52K | -8.9% |
4 Bedrooms | $71.9K | $71K | -1.3% |
5+ Bedrooms | $107.5K | $75K | -30.2% |
Summary: 48504 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 decreased by 13.5%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 30.2%.
Housing Supply in 48504, MI
How many homes are available in 48504, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
100 | 102 | +2.0% |
Summary: The 48504 real estate market had 102 homes for sale in March 2024, a 2.0% 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 | 22 | 23 | +4.5% |
3 Bedrooms | 58 | 59 | +1.7% |
4 Bedrooms | 17 | 16 | -5.9% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 48504 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 4.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 24 | +33.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in 48504 in March 2024, up by 33.3% month-over-month. Of the 24 sold homes, 58% were sold under asking, 4% were sold at asking, and 38% were sold over asking.
Days on Market for 48504, MI
How long does it take to sell a home in 48504, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
57 Days | 38 Days | -33.5% |
Summary: Homes in 48504 had an average of 38 days on market in Mar 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in 48504; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.