Is 48723, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 48723 has remained a Seller's Market.
Housing Prices in 48723, MI
How much do homes in 48723, MI cost?
Median Sold Price
$139,500
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48723 was $139,500 in March 2024, down 10% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $26K | $37K | +42.3% |
2 Bedrooms | $99.5K | $98.7K | -0.8% |
3 Bedrooms | $169.9K | $153.7K | -9.5% |
4 Bedrooms | $189.9K | $265K | +39.5% |
5+ Bedrooms | $250K | - | N/A |
Summary: 48723 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.3%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes increased by 39.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
48744 | $179.9K | $176K | -2.2% |
48723 | $155K | $139.5K | -10.0% |
Housing Supply in 48723, MI
How many homes are available in 48723, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 11 | -15.4% |
Summary: The 48723 real estate market had 11 homes for sale in March 2024, a 15.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 8 | 6 | -25.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48723 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in 48723 in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48723, MI
How long does it take to sell a home in 48723, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
109 Days | 41 Days | -62.4% |
Summary: Homes in 48723 had an average of 41 days on market in Mar 2024, down by 62.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in 48723; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.