Is 48509, 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, 48509 was a Neutral Market.
Key Takeaway
48509 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48509, MI
How much do homes in 48509, MI cost?
Median Sold Price
$171,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48509 have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in 48509 was $171,000 in April 2024, up 2.4% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $138.3K | $140K | +1.2% |
| 3 Bedrooms | $176K | $170K | -3.4% |
| 4 Bedrooms | $207.9K | $214K | +2.9% |
| 5+ Bedrooms | - | $150K | N/A |
Summary: 48509 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 increased by 1.2%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes did not change.
Housing Supply in 48509, MI
How many homes are available in 48509, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 28 | +40.0% |
Summary: The 48509 real estate market had 28 homes for sale in April 2024, a 40.0% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 1 | 5 | +400.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48509 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 400%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48509, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48509 in April 2024, up by 166.7% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 48509, MI
How long does it take to sell a home in 48509, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 2 Days | 23 Days | +1050.0% |
Summary: Homes in 48509 had an average of 23 days on market in Apr 2024, up by 1050% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48509 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 48509; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
