Is 48519, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48519 has remained a Seller's Market.
Key Takeaway
48519 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48519, MI
How much do homes in 48519, MI cost?
Median Sold Price
$182,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48519 have sold for 7.8% less than they did a year ago.
Summary: The median home sold price in 48519 was $182,000 in April 2024, down 7.8% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $45.1K | - | N/A |
| 2 Bedrooms | $116.5K | $132K | +13.3% |
| 3 Bedrooms | $188.9K | $180K | -4.7% |
| 4 Bedrooms | $247.4K | $234.9K | -5.1% |
| 5+ Bedrooms | - | $168K | N/A |
Summary: 48519 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 13.3%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes did not change.
Housing Supply in 48519, MI
How many homes are available in 48519, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Summary: The 48519 real estate market had 27 homes for sale in April 2024, a 8.0% 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 | 3 | -25.0% |
| 3 Bedrooms | 15 | 20 | +33.3% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48519 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 decreased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48519, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 48519 in April 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 48519, MI
How long does it take to sell a home in 48519, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 113 Days | 66 Days | -41.1% |
Summary: Homes in 48519 had an average of 66 days on market in Apr 2024, down by 41.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48519 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 48519; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
