Is 48631, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48631 has remained a Seller's Market.
Key Takeaway
48631 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48631, MI
How much do homes in 48631, MI cost?
Median Sold Price
$255,000
$103/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48631 have sold for 30.8% more than they did a month ago.
Summary: The median home sold price in 48631 was $255,000 in April 2024, up 30.8% from last month, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $195K | - | N/A |
| 4 Bedrooms | - | $180K | N/A |
| 5+ Bedrooms | - | $330K | N/A |
Summary: 48631 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 did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48634 | $245K | $430.5K | +75.7% |
| 48631 | $195K | $255K | +30.8% |
Housing Supply in 48631, MI
How many homes are available in 48631, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Summary: The 48631 real estate market had 5 homes for sale in April 2024, a 150.0% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48631 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48631, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48631 in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48631, MI
How long does it take to sell a home in 48631, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 35 Days | +59.1% |
Summary: Homes in 48631 had an average of 35 days on market in Apr 2024, up by 59.1% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48631 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 48631; 50% of homes were sold within 30 days, 50% 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.