Is 48656, 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, 48656 has remained a Seller's Market.
Housing Prices in 48656, MI
How much do homes in 48656, MI cost?
Median Sold Price
$120,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48656 was $120,000 in April 2024, up 9.2% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $84.7K | -10.8% |
2 Bedrooms | $99K | $96.5K | -2.5% |
3 Bedrooms | $134K | $151K | +12.7% |
4 Bedrooms | $174.9K | $225K | +28.6% |
5+ Bedrooms | - | - | N/A |
Summary: 48656 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.8%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes did not change.
Housing Supply in 48656, MI
How many homes are available in 48656, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 41 | +24.2% |
Summary: The 48656 real estate market had 41 homes for sale in April 2024, a 24.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 22 | 23 | +4.5% |
3 Bedrooms | 9 | 10 | +11.1% |
4 Bedrooms | 0 | 2 | +100.0% |
5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The 48656 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 12 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in 48656 in April 2024, up by 50.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for 48656, MI
How long does it take to sell a home in 48656, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
215 Days | 92 Days | -57.0% |
Summary: Homes in 48656 had an average of 92 days on market in Apr 2024, down by 57% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in 48656; 8% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.