Is 48748, 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, 48748 was a Seller's Market.
Key Takeaway
48748 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48748, MI
How much do homes in 48748, MI cost?
Median Sold Price
$150,000
$92/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48748 have sold for 66.7% more than they did a month ago.
Summary: The median home sold price in 48748 was $150,000 in April 2024, up 66.7% from last month, and the median price per square foot was $92.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $90K | $150K | +66.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48748 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 66.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48748 | $90K | $150K | +66.7% |
| 48730 | $190.7K | $270K | +41.5% |
Housing Supply in 48748, MI
How many homes are available in 48748, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Summary: The 48748 real estate market had 11 homes for sale in April 2024, a 120.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48748 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48748, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 48748 in April 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48748, MI
How long does it take to sell a home in 48748, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 97 Days | 212 Days | +118.6% |
Summary: Homes in 48748 had an average of 212 days on market in Apr 2024, up by 118.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 48748 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in 48748; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
