Is 48817, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48817 has remained a Seller's Market.
Housing Prices in 48817, MI
How much do homes in 48817, MI cost?
Median Sold Price
$182,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48817 was $182,000 in April 2024, up 19.1% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $70K | N/A |
2 Bedrooms | $111.7K | $126K | +12.8% |
3 Bedrooms | $153K | $170K | +11.1% |
4 Bedrooms | $214.4K | $218K | +1.6% |
5+ Bedrooms | $182K | $243K | +33.5% |
Summary: 48817 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 33.5%.
Housing Supply in 48817, MI
How many homes are available in 48817, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 20 | -4.8% |
Summary: The 48817 real estate market had 20 homes for sale in April 2024, a 4.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 14 | 13 | -7.1% |
4 Bedrooms | 4 | 3 | -25.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48817 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 33.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 9 | +80.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in 48817 in April 2024, up by 80.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 33% were sold at asking, and 44% were sold over asking.
Days on Market for 48817, MI
How long does it take to sell a home in 48817, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
79 Days | 11 Days | -85.5% |
Summary: Homes in 48817 had an average of 11 days on market in Apr 2024, down by 85.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in 48817; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.