Is 48821, 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, 48821 has remained a Seller's Market.
Housing Prices in 48821, MI
How much do homes in 48821, MI cost?
Median Sold Price
$286,950
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48821 was $286,950 in March 2024, up 2.6% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.4K | - | N/A |
2 Bedrooms | $127.5K | $170K | +33.3% |
3 Bedrooms | $252.5K | $269K | +6.6% |
4 Bedrooms | $339.3K | $344.5K | +1.5% |
5+ Bedrooms | $407.5K | $375K | -8.0% |
Summary: 48821 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 33.3%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 8%.
Housing Supply in 48821, MI
How many homes are available in 48821, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Summary: The 48821 real estate market had 10 homes for sale in March 2024, a 9.1% 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 | 1 | 0 | -100.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48821 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 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 48821 in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 48821, MI
How long does it take to sell a home in 48821, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
23 Days | 1 Days | -92.2% |
Summary: Homes in 48821 had an average of 1 days on market in Mar 2024, down by 92.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in 48821; 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.