Is 48801, 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, 48801 has remained a Seller's Market.
Housing Prices in 48801, MI
How much do homes in 48801, MI cost?
Median Sold Price
$160,000
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48801 was $160,000 in March 2024, up 4.9% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $44K | - | N/A |
2 Bedrooms | $95.5K | $126K | +31.9% |
3 Bedrooms | $143K | $160K | +11.9% |
4 Bedrooms | $177.7K | $174K | -2.1% |
5+ Bedrooms | $188.2K | $422.6K | +124.5% |
Summary: 48801 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31.9%, 3 bedroom homes increased by 11.9%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 124.5%.
Housing Supply in 48801, MI
How many homes are available in 48801, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 51 | +13.3% |
Summary: The 48801 real estate market had 51 homes for sale in March 2024, a 13.3% increase 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 | 8 | 11 | +37.5% |
3 Bedrooms | 27 | 29 | +7.4% |
4 Bedrooms | 9 | 10 | +11.1% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48801 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 increased by 37.5%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 11 | +57.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 48801 in March 2024, up by 57.1% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% were sold over asking.
Days on Market for 48801, MI
How long does it take to sell a home in 48801, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
120 Days | 46 Days | -61.7% |
Summary: Homes in 48801 had an average of 46 days on market in Mar 2024, down by 61.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 48801; 45% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.