Is 48756, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48756 was a Neutral Market.
Key Takeaway
48756 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48756, MI
How much do homes in 48756, MI cost?
Median Sold Price
$95,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48756 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 48756 was $95,000 in April 2024, up 10.5% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136.2K | $47.6K | -65.0% |
| 2 Bedrooms | $64.9K | $75K | +15.6% |
| 3 Bedrooms | $95.7K | $139K | +45.2% |
| 4 Bedrooms | - | $72.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48756 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 45.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48756, MI
How many homes are available in 48756, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 23 | +53.3% |
Summary: The 48756 real estate market had 23 homes for sale in April 2024, a 53.3% 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 | 7 | 10 | +42.9% |
| 3 Bedrooms | 6 | 9 | +50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48756 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 42.9%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
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
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48756, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48756 in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 48756, MI
How long does it take to sell a home in 48756, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 133 Days | 37 Days | -72.0% |
Summary: Homes in 48756 had an average of 37 days on market in Apr 2024, down by 72% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48756 has remained consistent over time.
Summary: During April 2024, 5 homes were sold in 48756; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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