Is 48629, 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, 48629 has remained a Seller's Market.
Housing Prices in 48629, MI
How much do homes in 48629, MI cost?
Median Sold Price
$178,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48629 was $178,000 in March 2024, down 1.9% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $78.9K | $85K | +7.6% |
2 Bedrooms | $135K | $135K | 0.0% |
3 Bedrooms | $210K | $200K | -4.8% |
4 Bedrooms | $400K | $321.6K | -19.6% |
5+ Bedrooms | $179.9K | $822K | +356.9% |
Summary: 48629 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 19.6%, and 5+ bedroom homes increased by 356.9%.
Median Sold Price Compared To Nearby Zip Codes
48651 | $169.9K | $200K | +17.7% |
48629 | $181.4K | $178K | -1.9% |
Housing Supply in 48629, MI
How many homes are available in 48629, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 62 | +26.5% |
Summary: The 48629 real estate market had 62 homes for sale in March 2024, a 26.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 31 | 37 | +19.4% |
4 Bedrooms | 4 | 8 | +100.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48629 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 16.7%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 12 | +50.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 12 homes were sold or pending in 48629 in March 2024, up by 50.0% month-over-month. Of the 12 sold homes, 75% were sold under asking, 17% were sold at asking, and 8% were sold over asking.
Days on Market for 48629, MI
How long does it take to sell a home in 48629, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in 48629; 17% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.