Is 48624, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48624 was a Buyer's Market.
Key Takeaway
48624 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48624, MI
How much do homes in 48624, MI cost?
Median Sold Price
$270,700
$175/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48624 have sold for 90% more than they did a month ago.
Summary: The median home sold price in 48624 was $270,700 in April 2024, up 90% from last month, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $130K | $115.9K | -10.8% |
| 3 Bedrooms | $185K | $294.9K | +59.4% |
| 4 Bedrooms | - | $299.7K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48624 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.8%, 3 bedroom homes increased by 59.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48610 | $66.5K | $135K | +103.0% |
| 48624 | $142.5K | $270.7K | +90.0% |
Housing Supply in 48624, MI
How many homes are available in 48624, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 59 | +34.1% |
Summary: The 48624 real estate market had 59 homes for sale in April 2024, a 34.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 25 | 31 | +24.0% |
| 4 Bedrooms | 5 | 11 | +120.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48624 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 120%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 14 | +250.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48624, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 48624 in April 2024, up by 250.0% month-over-month. Of the 14 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for 48624, MI
How long does it take to sell a home in 48624, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 102 Days | +114.6% |
Summary: Homes in 48624 had an average of 102 days on market in Apr 2024, up by 114.6% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48624 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 48624; 43% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 43% 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. 
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.