Is 48647, 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, 48647 was a Buyer's Market.
Key Takeaway
48647 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48647, MI
How much do homes in 48647, MI cost?
Median Sold Price
$104,950
$92/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48647 have sold for 7.9% less than they did a year ago.
Summary: The median home sold price in 48647 was $104,950 in April 2024, down 7.9% from last year, and the median price per square foot was $92.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.9K | $79K | +23.5% |
| 2 Bedrooms | $91K | $92.7K | +1.9% |
| 3 Bedrooms | $118.9K | $145.5K | +22.3% |
| 4 Bedrooms | $279K | $170K | -39.1% |
| 5+ Bedrooms | $200K | $266K | +33.0% |
Summary: 48647 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.5%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 22.3%, 4 bedroom homes decreased by 39.1%, and 5+ bedroom homes increased by 33%.
Median Sold Price Compared To Nearby Zip Codes
| 48647 | $113.9K | $104.9K | -7.9% |
| 48636 | $117.5K | $90K | -23.4% |
Housing Supply in 48647, MI
How many homes are available in 48647, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Summary: The 48647 real estate market had 30 homes for sale in April 2024, a 3.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48647 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 decreased by 8.3%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48647, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48647 in April 2024, up by 100.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 30% were sold at asking, and 10% were sold over asking.
Days on Market for 48647, MI
How long does it take to sell a home in 48647, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48647 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in 48647; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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