Is 48808, 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, 48808 has remained a Seller's Market.
Key Takeaway
48808 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48808, MI
How much do homes in 48808, MI cost?
Median Sold Price
$422,500
$198/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 48808 have sold for 31.7% more than they did a month ago.
Summary: The median home sold price in 48808 was $422,500 in March 2024, up 31.7% from last month, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $122.5K | $165K | +34.7% |
| 3 Bedrooms | $375K | $422.5K | +12.7% |
| 4 Bedrooms | $430K | - | N/A |
| 5+ Bedrooms | - | $682K | N/A |
Summary: 48808 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 34.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48808, MI
How many homes are available in 48808, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 15 | -16.7% |
Summary: The 48808 real estate market had 15 homes for sale in March 2024, a 16.7% decrease 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 | 6 | 3 | -50.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 48808 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 decreased by 50%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
2 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 48808, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48808 in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 48808, MI
How long does it take to sell a home in 48808, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 38 Days | -25.0% |
Summary: Homes in 48808 had an average of 38 days on market in Mar 2024, down by 25% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48808 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in 48808; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.