Is 48746, 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, 48746 has remained a Seller's Market.
Key Takeaway
48746 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48746, MI
How much do homes in 48746, MI cost?
Median Sold Price
$181,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48746 have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in 48746 was $181,000 in April 2024, down 2.1% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | $219.9K | +131.5% |
| 2 Bedrooms | $138.9K | $161.3K | +16.1% |
| 3 Bedrooms | $185.4K | $176K | -5.1% |
| 4 Bedrooms | $235K | $245.5K | +4.5% |
| 5+ Bedrooms | $215K | $247.2K | +15.0% |
Summary: 48746 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 131.5%, 2 bedroom homes increased by 16.1%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 15%.
Housing Supply in 48746, MI
How many homes are available in 48746, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Summary: The 48746 real estate market had 20 homes for sale in April 2024, a 25.0% 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 | 2 | -60.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48746 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 decreased by 60%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48746, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48746 in April 2024, the same as the previous month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 48746, MI
How long does it take to sell a home in 48746, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 58 Days | 14 Days | -74.9% |
Summary: Homes in 48746 had an average of 14 days on market in Apr 2024, down by 74.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48746 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 48746; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
