Is 48529, 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, 48529 has remained a Seller's Market.
Housing Prices in 48529, MI
How much do homes in 48529, MI cost?
Median Sold Price
$90,000
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48529 was $90,000 in April 2024, down 9.1% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $27.5K | $33.5K | +21.8% |
2 Bedrooms | $74.2K | $73.5K | -1.0% |
3 Bedrooms | $127.9K | $109K | -14.8% |
4 Bedrooms | $125K | $149.9K | +19.9% |
5+ Bedrooms | - | - | N/A |
Summary: 48529 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.8%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes did not change.
Housing Supply in 48529, MI
How many homes are available in 48529, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 28 | -9.7% |
Summary: The 48529 real estate market had 28 homes for sale in April 2024, a 9.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 16 | 16 | 0.0% |
3 Bedrooms | 10 | 7 | -30.0% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48529 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 30%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 9 | -35.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in 48529 in April 2024, down by 35.7% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for 48529, MI
How long does it take to sell a home in 48529, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 31 Days | +25.8% |
Summary: Homes in 48529 had an average of 31 days on market in Apr 2024, up by 25.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in 48529; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.