Is 48836, 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, 48836 has remained a Seller's Market.
Key Takeaway
48836 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48836, MI
How much do homes in 48836, MI cost?
Median Sold Price
$313,250
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48836 have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in 48836 was $313,250 in April 2024, up 12.3% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | - | N/A |
| 2 Bedrooms | $182.5K | $210K | +15.1% |
| 3 Bedrooms | $269.1K | $299.9K | +11.4% |
| 4 Bedrooms | $319.9K | $330K | +3.2% |
| 5+ Bedrooms | $405K | $324.9K | -19.8% |
Summary: 48836 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 15.1%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 19.8%.
Housing Supply in 48836, MI
How many homes are available in 48836, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 43 | +13.2% |
Summary: The 48836 real estate market had 43 homes for sale in April 2024, a 13.2% increase 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 17 | 23 | +35.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48836 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 100%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48836, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in 48836 in April 2024, down by 23.1% month-over-month. Of the 10 sold homes, 30% were sold under asking, 60% were sold at asking, and 10% were sold over asking.
Days on Market for 48836, MI
How long does it take to sell a home in 48836, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 7 Days | -82.7% |
Summary: Homes in 48836 had an average of 7 days on market in Apr 2024, down by 82.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48836 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in 48836; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.