Is 48827, 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, 48827 has remained a Seller's Market.
Housing Prices in 48827, MI
How much do homes in 48827, MI cost?
Median Sold Price
$220,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48827 was $220,000 in March 2024, up 10.3% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $55K | $129K | +134.5% |
2 Bedrooms | $160.1K | $185K | +15.6% |
3 Bedrooms | $192.2K | $218.7K | +13.8% |
4 Bedrooms | $230K | $259.3K | +12.8% |
5+ Bedrooms | $320K | $343.5K | +7.3% |
Summary: 48827 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 134.5%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 7.3%.
Housing Supply in 48827, MI
How many homes are available in 48827, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 31 | -6.1% |
Summary: The 48827 real estate market had 31 homes for sale in March 2024, a 6.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 15 | 14 | -6.7% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The 48827 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in 48827 in March 2024, up by 12.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for 48827, MI
How long does it take to sell a home in 48827, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 9 Days | -81.6% |
Summary: Homes in 48827 had an average of 9 days on market in Mar 2024, down by 81.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in 48827; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.