Is 48823, 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, 48823 has remained a Seller's Market.
Housing Prices in 48823, MI
How much do homes in 48823, MI cost?
Median Sold Price
$280,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48823 was $280,000 in March 2024, up 5.7% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $93.5K | $106.1K | +13.5% |
2 Bedrooms | $166K | $189K | +13.9% |
3 Bedrooms | $260K | $270K | +3.8% |
4 Bedrooms | $314.9K | $362K | +15.0% |
5+ Bedrooms | $510K | $477.5K | -6.4% |
Summary: 48823 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 6.4%.
Housing Supply in 48823, MI
How many homes are available in 48823, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
85 | 94 | +10.6% |
Summary: The 48823 real estate market had 94 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 28 | 34 | +21.4% |
4 Bedrooms | 22 | 27 | +22.7% |
5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The 48823 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 remained the same, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
34 | 25 | -26.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in 48823 in March 2024, down by 26.5% month-over-month. Of the 25 sold homes, 48% were sold under asking, 24% were sold at asking, and 28% were sold over asking.
Days on Market for 48823, MI
How long does it take to sell a home in 48823, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 21 Days | -42.7% |
Summary: Homes in 48823 had an average of 21 days on market in Mar 2024, down by 42.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in 48823; 80% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.