Is 48703, 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, 48703 was a Neutral Market.
Key Takeaway
48703 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48703, MI
How much do homes in 48703, MI cost?
Median Sold Price
$223,750
$167/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48703 have sold for 18.6% less than they did a month ago.
Summary: The median home sold price in 48703 was $223,750 in April 2024, down 18.6% from last month, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $624.9K | - | N/A |
| 3 Bedrooms | $275K | $223.7K | -18.6% |
| 4 Bedrooms | $159.5K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48703 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 decreased by 18.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48703 | $275K | $223.7K | -18.6% |
| 48658 | $217.5K | $73.5K | -66.2% |
Housing Supply in 48703, MI
How many homes are available in 48703, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Summary: The 48703 real estate market had 22 homes for sale in April 2024, a 22.2% 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 | 9 | 13 | +44.4% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48703 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 44.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48703, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48703 in April 2024, up by 66.7% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48703, MI
How long does it take to sell a home in 48703, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 95 Days | 80 Days | -15.5% |
Summary: Homes in 48703 had an average of 80 days on market in Apr 2024, down by 15.5% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48703 has remained consistent over time.
Summary: During April 2024, 5 homes were sold in 48703; 0% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.