Is 48609, 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, 48609 has remained a Seller's Market.
Key Takeaway
48609 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48609, MI
How much do homes in 48609, MI cost?
Median Sold Price
$193,500
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48609 have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in 48609 was $193,500 in March 2024, up 7.5% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.9K | $82.3K | +8.4% |
| 2 Bedrooms | $118.9K | $144.2K | +21.2% |
| 3 Bedrooms | $200.5K | $190K | -5.2% |
| 4 Bedrooms | $218.5K | $255K | +16.7% |
| 5+ Bedrooms | $284.5K | $420K | +47.6% |
Summary: 48609 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 21.2%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 47.6%.
Housing Supply in 48609, MI
How many homes are available in 48609, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Summary: The 48609 real estate market had 28 homes for sale in March 2024, a 21.7% 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48609 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 20%, 3 bedroom homes increased by 41.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48609, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48609 in March 2024, up by 166.7% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 48609, MI
How long does it take to sell a home in 48609, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48609 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 48609; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.