Is 48642, 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, 48642 has remained a Seller's Market.
Key Takeaway
48642 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48642, MI
How much do homes in 48642, MI cost?
Median Sold Price
$245,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48642 have sold for 21% more than they did a year ago.
Summary: The median home sold price in 48642 was $245,000 in April 2024, up 21% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115.5K | $135K | +16.9% |
| 3 Bedrooms | $182.5K | $198.2K | +8.6% |
| 4 Bedrooms | $265.5K | $330K | +24.3% |
| 5+ Bedrooms | $457.5K | $345K | -24.6% |
Summary: 48642 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.9%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes decreased by 24.6%.
Median Sold Price Compared To Nearby Zip Codes
| 48642 | $202.5K | $245K | +21.0% |
| 48640 | $200K | $224K | +12.0% |
| 48611 | $190K | $199K | +4.7% |
| 48657 | $222.2K | $197.7K | -11.0% |
Housing Supply in 48642, MI
How many homes are available in 48642, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 45 | +55.2% |
Summary: The 48642 real estate market had 45 homes for sale in April 2024, a 55.2% 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 | 5 | 0.0% |
| 3 Bedrooms | 16 | 25 | +56.3% |
| 4 Bedrooms | 7 | 13 | +85.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48642 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 56.3%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 14 | +133.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48642, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 48642 in April 2024, up by 133.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.
Days on Market for 48642, MI
How long does it take to sell a home in 48642, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 2 Days | 33 Days | +1234.3% |
Summary: Homes in 48642 had an average of 33 days on market in Apr 2024, up by 1234.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48642 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 48642; 57% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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