Is 48761, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48761 has remained a Seller's Market.
Key Takeaway
48761 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48761, MI
How much do homes in 48761, MI cost?
Median Sold Price
$169,135
$135/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48761 have sold for 44.5% less than they did a month ago.
Summary: The median home sold price in 48761 was $169,135 in April 2024, down 44.5% from last month, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $305K | $169.1K | -44.5% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48761 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 44.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48635 | $92.5K | $214K | +131.4% |
| 48761 | $305K | $169.1K | -44.5% |
Housing Supply in 48761, MI
How many homes are available in 48761, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Summary: The 48761 real estate market had 9 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48761 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 increased by 50%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48761, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 48761 in April 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 48761, MI
How long does it take to sell a home in 48761, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 Days | 40 Days | -27.7% |
Summary: Homes in 48761 had an average of 40 days on market in Apr 2024, down by 27.7% compared to last month.
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
Key Takeaway
Many homes in 48761 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 48761; 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.
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