Is 48604, 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, 48604 has remained a Seller's Market.
Key Takeaway
48604 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48604, MI
How much do homes in 48604, MI cost?
Median Sold Price
$130,500
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48604 have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in 48604 was $130,500 in April 2024, up 9.7% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $38.4K | - | N/A |
| 2 Bedrooms | $101K | $100K | -1.0% |
| 3 Bedrooms | $120K | $133.7K | +11.5% |
| 4 Bedrooms | $126.2K | $149.5K | +18.5% |
| 5+ Bedrooms | $185K | - | N/A |
Summary: 48604 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 decreased by 1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes did not change.
Housing Supply in 48604, MI
How many homes are available in 48604, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 23 | -11.5% |
Summary: The 48604 real estate market had 23 homes for sale in April 2024, a 11.5% decrease 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48604 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 20%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48604, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 48604 in April 2024, up by 71.4% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.
Days on Market for 48604, MI
How long does it take to sell a home in 48604, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 15 Days | +427.8% |
Summary: Homes in 48604 had an average of 15 days on market in Apr 2024, up by 427.8% compared to last year.
Breakdown of Home Sale Times
10 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 48604 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in 48604; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
