Is 48661, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48661 was a Buyer's Market.
Key Takeaway
48661 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48661, MI
How much do homes in 48661, MI cost?
Median Sold Price
$214,000
$162/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48661 have sold for 35.4% more than they did a month ago.
Summary: The median home sold price in 48661 was $214,000 in April 2024, up 35.4% from last month, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $190K | N/A |
| 3 Bedrooms | $158K | $238K | +50.6% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48661 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 increased by 50.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48654 | $45K | $850K | +1788.9% |
| 48635 | $92.5K | $214K | +131.4% |
| 48661 | $158K | $214K | +35.4% |
Housing Supply in 48661, MI
How many homes are available in 48661, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 42 | +50.0% |
Summary: The 48661 real estate market had 42 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 | 3 | +50.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 16 | 25 | +56.3% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48661 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 16.7%, 3 bedroom homes increased by 56.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48661, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in 48661 in April 2024, up by 166.7% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for 48661, MI
How long does it take to sell a home in 48661, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 116 Days | 85 Days | -26.3% |
Summary: Homes in 48661 had an average of 85 days on market in Apr 2024, down by 26.3% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48661 has remained consistent over time.
Summary: During April 2024, 8 homes were sold in 48661; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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