Is 48612, 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, 48612 has remained a Seller's Market.
Key Takeaway
48612 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48612, MI
How much do homes in 48612, MI cost?
Median Sold Price
$152,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48612 have sold for 20% less than they did a year ago.
Summary: The median home sold price in 48612 was $152,000 in April 2024, down 20% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $56K | -44.0% |
| 2 Bedrooms | $140K | $93K | -33.6% |
| 3 Bedrooms | $195K | $185K | -5.1% |
| 4 Bedrooms | $285K | $378.7K | +32.9% |
| 5+ Bedrooms | $313.5K | $485K | +54.7% |
Summary: 48612 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44%, 2 bedroom homes decreased by 33.6%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 32.9%, and 5+ bedroom homes increased by 54.7%.
Housing Supply in 48612, MI
How many homes are available in 48612, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 40 | +100.0% |
Summary: The 48612 real estate market had 40 homes for sale in April 2024, a 100.0% 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 | 5 | 12 | +140.0% |
| 3 Bedrooms | 9 | 21 | +133.3% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48612 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 increased by 140%, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48612, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48612 in April 2024, up by 166.7% month-over-month. Of the 8 sold homes, 63% were sold under asking, 38% were sold at asking, and 0% were sold over asking.
Days on Market for 48612, MI
How long does it take to sell a home in 48612, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48612 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 48612; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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