Is 48632, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48632 was a Seller's Market.
Key Takeaway
48632 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48632, MI
How much do homes in 48632, MI cost?
Median Sold Price
$139,950
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48632 have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in 48632 was $139,950 in April 2024, up 9.8% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59.2K | $61.9K | +4.5% |
| 2 Bedrooms | $77.7K | $115K | +47.9% |
| 3 Bedrooms | $155K | $177.5K | +14.5% |
| 4 Bedrooms | - | $177.4K | N/A |
| 5+ Bedrooms | $615K | - | N/A |
Summary: 48632 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 47.9%, 3 bedroom homes increased by 14.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48632, MI
How many homes are available in 48632, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 30 | +50.0% |
Summary: The 48632 real estate market had 30 homes for sale in April 2024, a 50.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48632 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48632, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48632 in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 48632, MI
How long does it take to sell a home in 48632, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 160 Days | 87 Days | -45.4% |
Summary: Homes in 48632 had an average of 87 days on market in Apr 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 48632 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 5 homes were sold in 48632; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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